KBC Group NV Purchases 774 Shares of Alkermes plc (NASDAQ:ALKS)

KBC Group NV increased its holdings in Alkermes plc (NASDAQ:ALKS) by 18.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,890 shares of the company’s stock after purchasing an additional 774 shares during the quarter. KBC Group NV’s holdings in Alkermes were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ALKS. Price T Rowe Associates Inc. MD increased its position in Alkermes by 421.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after purchasing an additional 6,730,671 shares during the period. Pacer Advisors Inc. increased its position in shares of Alkermes by 31.8% during the second 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 during the period. Dimensional Fund Advisors LP raised 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 worth $69,507,000 after buying an additional 371,039 shares in the last quarter. Armistice Capital LLC lifted its holdings in Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after buying an additional 2,026,961 shares during the period. Finally, American Century Companies Inc. boosted its position in Alkermes by 87.1% during the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after acquiring an additional 1,025,905 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

ALKS stock opened at $27.79 on Friday. The stock’s 50 day simple moving average is $27.84 and its 200 day simple moving average is $26.31. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12-month low of $22.22 and a 12-month high of $32.88. The stock has a market capitalization of $4.50 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.47.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the completion of the transaction, the executive vice president now directly owns 83,300 shares of the company’s stock, valued at $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group reduced 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. Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Robert W. Baird lifted their price target on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

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.