Tidal Investments LLC Invests $1.10 Million in Alkermes plc (NASDAQ:ALKS)

Tidal Investments LLC purchased a new stake in Alkermes plc (NASDAQ:ALKS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,211 shares of the company’s stock, valued at approximately $1,098,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its holdings in shares of Alkermes by 31.8% in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in Alkermes by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock valued at $69,507,000 after acquiring an additional 371,039 shares in the last quarter. Armistice Capital LLC grew its holdings in shares of Alkermes by 301.5% during the second 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 during the last quarter. American Century Companies Inc. increased its position 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 worth $53,103,000 after purchasing an additional 1,025,905 shares in the last quarter. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of 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 purchasing an additional 1,478,422 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Price Performance

ALKS stock opened at $29.97 on Friday. The stock’s 50 day moving average price is $28.79 and its 200 day moving average price is $27.16. The firm has a market cap of $4.85 billion, a P/E ratio of 15.37, a PEG ratio of 1.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $32.88.

Analyst Ratings Changes

Several research firms have commented on ALKS. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. The Goldman Sachs Group cut their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research note 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the sale, the senior vice president now directly owns 60,703 shares in the company, valued at $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 61,151 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were 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. The trade was a 56.24 % 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 three months. 4.89% of the stock is currently owned by insiders.

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.