Alkermes plc (NASDAQ:ALKS) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in Alkermes plc (NASDAQ:ALKS) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,521 shares of the company’s stock after selling 1,296 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Alkermes were worth $1,498,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ALKS. V Square Quantitative Management LLC purchased a new stake in Alkermes in the third quarter valued at approximately $29,000. Signaturefd LLC increased its holdings in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after buying an additional 1,498 shares during the period. GAMMA Investing LLC boosted its holdings in Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after acquiring an additional 703 shares during the last quarter. Finally, Archer Investment Corp grew its position in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after acquiring an additional 1,000 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Trading Up 0.2 %

ALKS opened at $29.32 on Thursday. The stock has a market capitalization of $4.74 billion, a PE ratio of 15.04, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes plc has a 12-month low of $22.22 and a 12-month high of $32.88. The firm’s fifty day moving average price is $27.98 and its 200 day moving average price is $26.47.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the transaction, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the transaction, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,675 shares of company stock valued at $2,235,622. Insiders own 4.89% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALKS. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Mizuho raised their target price on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reduced their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Profile

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.