Capstone Investment Advisors LLC Takes $468,000 Position in Alkermes plc (NASDAQ:ALKS)

Capstone Investment Advisors LLC purchased a new position in shares of Alkermes plc (NASDAQ:ALKS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,704 shares of the company’s stock, valued at approximately $468,000.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the 3rd quarter worth approximately $29,000. Signaturefd LLC lifted its holdings in Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC increased its stake in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after purchasing an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes during the 2nd quarter worth about $116,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other Alkermes news, 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 value of $151,813.20. Following the sale, the senior vice president now owns 60,703 shares in the company, valued at $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 58,996 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,675 shares of company stock worth $2,235,622 in the last ninety days. 4.89% of the stock is owned by insiders.

Alkermes Trading Down 1.0 %

Shares of ALKS opened at $29.02 on Friday. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $32.88. The firm has a market capitalization of $4.70 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.97 and a beta of 0.47. The firm has a 50-day moving average price of $28.01 and a 200 day moving average price of $26.52. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald lowered their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Mizuho boosted their price target on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.