Alkermes plc (NASDAQ:ALKS) Shares Sold by Eagle Asset Management Inc.

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in shares of Alkermes by 70.6% in the first quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock worth $697,000 after purchasing an additional 10,671 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Alkermes by 21.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,976 shares of the company’s stock worth $324,000 after buying an additional 2,097 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Alkermes by 19.6% during the 1st quarter. Advisors Asset Management Inc. now owns 29,886 shares of the company’s stock valued at $809,000 after acquiring an additional 4,891 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Alkermes by 655.0% in the 1st quarter. Lazard Asset Management LLC now owns 77,102 shares of the company’s stock valued at $2,087,000 after acquiring an additional 66,890 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake 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 acquiring an additional 6,730,671 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 83,300 shares in the company, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.89% of the company’s stock.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Mizuho boosted their price objective on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and raised their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Cantor Fitzgerald reduced their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, HC Wainwright restated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Stock Performance

NASDAQ:ALKS opened at $28.78 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The stock has a market capitalization of $4.66 billion, a PE ratio of 14.76, a P/E/G ratio of 0.92 and a beta of 0.47. Alkermes plc has a fifty-two week low of $22.22 and a fifty-two week high of $32.88. The company has a fifty day moving average of $27.89 and a two-hundred day moving average of $26.35.

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.