Alkermes plc (NASDAQ:ALKS) Stock Position Decreased by State Street Corp

State Street Corp lessened its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,185,392 shares of the company’s stock after selling 29,666 shares during the period. State Street Corp owned 5.68% of Alkermes worth $257,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. grew its position in shares of Alkermes by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after buying an additional 1,362,079 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Alkermes by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock valued at $69,507,000 after purchasing an additional 371,039 shares during the period. Armistice Capital LLC boosted its stake in Alkermes by 301.5% during the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after purchasing an additional 2,026,961 shares during the period. American Century Companies Inc. boosted its stake in Alkermes by 87.1% during the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after purchasing an additional 1,025,905 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in Alkermes by 365.5% during 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 purchasing an additional 1,478,422 shares during the period. Institutional investors own 95.21% of the company’s stock.

Insider Activity at Alkermes

In other news, Director Cato T. Laurencin sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’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 transaction 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. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,738 shares of company stock valued at $4,572,904 over the last ninety days. Insiders own 4.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and boosted their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. Mizuho boosted 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. Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Piper Sandler reissued an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, The Goldman Sachs Group reduced their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.42.

Alkermes Stock Down 2.3 %

ALKS stock opened at $30.60 on Wednesday. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88. The firm has a market cap of $4.95 billion, a PE ratio of 15.69, a P/E/G ratio of 1.05 and a beta of 0.49. The firm has a 50 day simple moving average of $28.39 and a 200 day simple moving average of $26.82. 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 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.