Alkermes plc (NASDAQ:ALKS) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. raised its stake in shares of Alkermes plc (NASDAQ:ALKS) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,158 shares of the company’s stock after acquiring an additional 1,771 shares during the period. Advisors Asset Management Inc.’s holdings in Alkermes were worth $284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALKS. Wedge Capital Management L L P NC acquired a new stake in Alkermes in the 2nd quarter valued at approximately $2,662,000. Harbor Capital Advisors Inc. boosted its position in shares of Alkermes by 120.3% during the second quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company’s stock worth $1,152,000 after buying an additional 26,112 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Alkermes by 26.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 221,257 shares of the company’s stock valued at $5,990,000 after buying an additional 45,903 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Alkermes in the 2nd quarter valued at $1,285,000. Finally, Natixis Advisors LLC lifted its stake in Alkermes by 190.3% during the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after acquiring an additional 23,921 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several research reports. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and lifted their target price for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group cut their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. HC Wainwright reissued a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Mizuho upped their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler reiterated 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Activity at Alkermes

In other news, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the sale, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the transaction, the executive vice president now owns 83,300 shares in the company, valued at $2,505,664. This represents a 41.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,675 shares of company stock valued at $2,235,622 in the last ninety days. Insiders own 4.89% of the company’s stock.

Alkermes Stock Performance

Shares of Alkermes stock opened at $29.32 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 52 week low of $22.22 and a 52 week high of $32.88. The firm’s 50 day moving average is $28.00 and its two-hundred day moving average is $26.49. The firm has a market capitalization of $4.74 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.98 and a beta of 0.47.

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.