Alkermes plc (NASDAQ:ALKS) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in shares of Alkermes plc (NASDAQ:ALKS) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 136,697 shares of the company’s stock after selling 605 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of Alkermes worth $3,826,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in ALKS. Price T Rowe Associates Inc. MD lifted its stake in Alkermes by 421.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after buying an additional 6,730,671 shares during the last quarter. Armistice Capital LLC lifted its position in Alkermes by 301.5% in 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 last quarter. Pacer Advisors Inc. grew its position in Alkermes by 31.8% in the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after purchasing an additional 1,362,079 shares during the last quarter. American Century Companies Inc. grew its position in Alkermes by 87.1% in the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after purchasing an additional 1,025,905 shares during the last quarter. Finally, Affinity Asset Advisors LLC increased its stake in shares of Alkermes by 766.7% in the second quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock valued at $15,665,000 after purchasing an additional 575,000 shares during the period. Institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of ALKS stock opened at $29.23 on Wednesday. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 0.96 and a beta of 0.47. 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 12 month low of $22.06 and a 12 month high of $32.88. The stock has a 50-day moving average price of $27.69 and a 200 day moving average price of $26.13.

Wall Street Analyst Weigh In

Several research firms recently commented on ALKS. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and raised their target price for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Robert W. Baird upped their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the sale, the executive vice president now owns 83,300 shares of the company’s stock, valued at $2,505,664. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the transaction, the executive vice president now directly owns 99,238 shares of the company’s stock, valued at approximately $2,930,498.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.08, for a total transaction 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.89% of the company’s stock.

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.