Tidal Investments LLC Makes New $1.10 Million Investment in Alkermes plc (NASDAQ:ALKS)

Tidal Investments LLC purchased a new stake in Alkermes plc (NASDAQ:ALKS) in the 3rd quarter, Holdings Channel reports. The firm purchased 39,211 shares of the company’s stock, valued at approximately $1,098,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ALKS. Sumitomo Mitsui Trust Holdings Inc. increased its position in Alkermes by 52.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,000 shares of the company’s stock worth $313,000 after purchasing an additional 4,500 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Alkermes by 3.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 85,100 shares of the company’s stock worth $2,051,000 after buying an additional 2,500 shares during the last quarter. AMG National Trust Bank purchased a new position in shares of Alkermes in the 2nd quarter worth $854,000. EFG Asset Management North America Corp. boosted its holdings in Alkermes by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock valued at $1,828,000 after acquiring an additional 359 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Alkermes by 73.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 209,535 shares of the company’s stock valued at $5,050,000 after acquiring an additional 88,834 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Trading Down 0.3 %

NASDAQ ALKS opened at $29.97 on Friday. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 1.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88. The company’s fifty day moving average price is $28.79 and its two-hundred day moving average price is $27.16.

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the transaction, the executive vice president now owns 99,238 shares in the company, valued at approximately $2,930,498.14. The trade was a 9.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,738 shares of company stock valued at $4,572,904. Insiders own 4.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Piper Sandler reaffirmed 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. Cantor Fitzgerald dropped their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reduced 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. Finally, Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and increased their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.42.

Alkermes Company 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.