Alkermes plc (NASDAQ:ALKS) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC increased its stake in Alkermes plc (NASDAQ:ALKS) by 72.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,324 shares of the company’s stock after acquiring an additional 30,048 shares during the period. Pathstone Holdings LLC’s holdings in Alkermes were worth $1,996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Alkermes in the 3rd quarter valued at about $29,000. Signaturefd LLC raised its holdings in Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares during the last quarter. GAMMA Investing LLC grew its holdings in Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares in the last quarter. Finally, Archer Investment Corp increased its position in shares of Alkermes by 28.6% in the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after purchasing an additional 1,000 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of Alkermes stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the sale, the executive vice president now owns 83,300 shares of the company’s stock, valued at $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered their target price 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. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Cantor Fitzgerald lowered their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, The Goldman Sachs Group cut their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Stock Performance

NASDAQ ALKS opened at $29.25 on Wednesday. The business’s 50-day moving average price is $27.95 and its 200 day moving average price is $26.45. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.73 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.96 and a beta of 0.47. Alkermes plc has a 52-week low of $22.22 and a 52-week high of $32.88.

Alkermes Company 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.