Alkermes plc (NASDAQ:ALKS) Position Decreased by Krensavage Asset Management LLC

Krensavage Asset Management LLC lowered its position in Alkermes plc (NASDAQ:ALKS) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,495 shares of the company’s stock after selling 6,059 shares during the period. Alkermes comprises approximately 3.9% of Krensavage Asset Management LLC’s holdings, making the stock its 9th largest position. Krensavage Asset Management LLC’s holdings in Alkermes were worth $7,039,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in shares of Alkermes by 31.8% in the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after purchasing an additional 1,362,079 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Alkermes by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock worth $69,507,000 after purchasing an additional 371,039 shares during the last quarter. Armistice Capital LLC increased its position in Alkermes by 301.5% during the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after purchasing an additional 2,026,961 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Alkermes by 87.1% during the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after buying an additional 1,025,905 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in Alkermes by 365.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock valued at $52,704,000 after buying an additional 1,478,422 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Activity

In related news, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 owns 60,703 shares in the company, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig C. Hopkinson sold 9,221 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $31.50, for a total value of $290,461.50. Following the completion of the sale, the executive vice president now owns 59,730 shares of the company’s stock, valued at $1,881,495. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,896 shares of company stock worth $2,526,083. Corporate insiders own 4.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ALKS. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Cantor Fitzgerald dropped their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Mizuho raised their price objective on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group lowered their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $35.42.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $31.46 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The firm has a market cap of $5.09 billion, a P/E ratio of 16.13, a PEG ratio of 0.98 and a beta of 0.49. The stock has a fifty day moving average price of $28.32 and a two-hundred day moving average price of $26.74. Alkermes plc has a 1 year low of $22.90 and a 1 year 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.