State of Alaska Department of Revenue Sells 2,013 Shares of Alkermes plc (NASDAQ:ALKS)

State of Alaska Department of Revenue lowered its holdings in Alkermes plc (NASDAQ:ALKS) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,956 shares of the company’s stock after selling 2,013 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Alkermes worth $2,644,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bleakley Financial Group LLC raised its holdings in Alkermes by 37.6% during the 4th quarter. Bleakley Financial Group LLC now owns 15,849 shares of the company’s stock valued at $456,000 after acquiring an additional 4,335 shares during the period. Choreo LLC grew its position in shares of Alkermes by 18.7% in the fourth quarter. Choreo LLC now owns 23,722 shares of the company’s stock valued at $683,000 after purchasing an additional 3,737 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Alkermes by 8.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 34,308 shares of the company’s stock valued at $987,000 after purchasing an additional 2,637 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in Alkermes by 28.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 122,489 shares of the company’s stock worth $3,523,000 after purchasing an additional 26,980 shares in the last quarter. Finally, KBC Group NV boosted its stake in Alkermes by 46.7% in the 4th quarter. KBC Group NV now owns 7,176 shares of the company’s stock worth $206,000 after purchasing an additional 2,286 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Price Performance

Shares of Alkermes stock opened at $31.57 on Monday. The firm has a market capitalization of $5.11 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88. The business’s 50-day moving average price is $30.08 and its 200-day moving average price is $28.58.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 61,151 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the transaction, the executive vice president now directly owns 47,576 shares in the company, valued at $1,525,762.32. This trade represents a 56.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value of $151,813.20. Following the completion of the sale, the senior vice president now owns 60,703 shares of the company’s stock, valued at $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 179,189 shares of company stock worth $5,723,518 over the last ninety days. Insiders own 4.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALKS. Cantor Fitzgerald decreased their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, Mizuho lifted 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.00.

About Alkermes

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.