Van ECK Associates Corp Purchases 29,998 Shares of Alkermes plc (NASDAQ:ALKS)

Van ECK Associates Corp grew its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 40.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 104,986 shares of the company's stock after buying an additional 29,998 shares during the period. Van ECK Associates Corp owned approximately 0.06% of Alkermes worth $2,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Foundry Partners LLC purchased a new stake in shares of Alkermes during the first quarter valued at $3,857,000. Wedge Capital Management L L P NC bought a new stake in shares of Alkermes in the second quarter worth approximately $2,662,000. Lazard Asset Management LLC lifted its position in Alkermes by 655.0% during the first quarter. Lazard Asset Management LLC now owns 77,102 shares of the company's stock valued at $2,087,000 after purchasing an additional 66,890 shares during the period. LSV Asset Management boosted its holdings in Alkermes by 81.5% in the first quarter. LSV Asset Management now owns 212,400 shares of the company's stock worth $5,750,000 after purchasing an additional 95,400 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new stake in Alkermes in the first quarter worth approximately $2,637,000. Institutional investors own 95.21% of the company's stock.

Alkermes Trading Down 0.4 %

Alkermes stock traded down $0.11 during midday trading on Friday, reaching $28.86. The stock had a trading volume of 1,837,154 shares, compared to its average volume of 1,889,883. Alkermes plc has a 52-week low of $22.06 and a 52-week high of $32.88. The company has a fifty day moving average of $27.66 and a 200 day moving average of $26.08. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of recent research reports. StockNews.com upgraded Alkermes from a "hold" rating to a "buy" rating in a research note on Sunday, July 28th. HC Wainwright restated a "neutral" rating and set a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a "hold" rating to a "buy" rating and upped their target price for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price target on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Alkermes presently has an average rating of "Moderate Buy" and an average target price of $35.00.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 10,471 shares of Alkermes stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the sale, the executive vice president now owns 99,238 shares of the company's stock, valued at approximately $2,930,498.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.89% of the stock is currently owned by insiders.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.