Moody Aldrich Partners LLC Sells 2,434 Shares of Alkermes plc (NASDAQ:ALKS)

Moody Aldrich Partners LLC lessened its stake in shares of Alkermes plc (NASDAQ:ALKS) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,473 shares of the company’s stock after selling 2,434 shares during the period. Moody Aldrich Partners LLC owned about 0.05% of Alkermes worth $2,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALKS. Handelsbanken Fonder AB grew its holdings in Alkermes by 0.3% in the third quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock worth $6,175,000 after purchasing an additional 700 shares during the last quarter. Nicollet Investment Management Inc. lifted its holdings in Alkermes by 1.7% during the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock worth $1,227,000 after buying an additional 714 shares in the last quarter. KBC Group NV lifted its holdings in Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after buying an additional 774 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Alkermes by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock valued at $890,000 after purchasing an additional 897 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alkermes by 17.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock valued at $164,000 after buying an additional 904 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Analysts Set New Price Targets

ALKS has been the subject of several recent analyst reports. Mizuho raised 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. The Goldman Sachs Group lowered their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Cantor Fitzgerald lowered their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Alkermes Trading Down 0.9 %

NASDAQ:ALKS opened at $31.25 on Wednesday. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $32.88. The company has a market cap of $5.06 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.56 and a beta of 0.49. 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 business has a 50 day moving average price of $29.59 and a two-hundred day moving average price of $28.17.

Insiders Place Their Bets

In related news, SVP Christian Todd Nichols sold 5,208 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the sale, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the sale, the director now directly owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,738 shares of company stock worth $4,572,904 in the last 90 days. Company 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.