Eagle Asset Management Inc. Reduces Position in Alkermes plc (NASDAQ:ALKS)

Eagle Asset Management Inc. trimmed its position in shares of Alkermes plc (NASDAQ:ALKS) by 28.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 378,718 shares of the company’s stock after selling 153,030 shares during the period. Eagle Asset Management Inc. owned about 0.23% of Alkermes worth $10,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALKS. Wedge Capital Management L L P NC purchased a new stake in shares of Alkermes in the second quarter worth approximately $2,662,000. Lazard Asset Management LLC lifted its position in shares of Alkermes by 655.0% during the first quarter. Lazard Asset Management LLC now owns 77,102 shares of the company’s stock worth $2,087,000 after purchasing an additional 66,890 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 worth $225,393,000 after purchasing an additional 6,730,671 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Alkermes by 120.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company’s stock worth $1,152,000 after buying an additional 26,112 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Alkermes by 26.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 221,257 shares of the company’s stock valued at $5,990,000 after buying an additional 45,903 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Trading Up 3.9 %

NASDAQ ALKS opened at $28.78 on Friday. Alkermes plc has a 52 week low of $22.22 and a 52 week high of $32.88. The company has a 50 day moving average price of $27.89 and a 200 day moving average price of $26.35. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.66 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.92 and a beta of 0.47.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho upped their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reduced 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. HC Wainwright reiterated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group cut their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note 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 for the company in a research note on Friday, October 25th. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the sale, the executive vice president now owns 99,238 shares of the company’s stock, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.