Alkermes plc (NASDAQ:ALKS) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in shares of Alkermes plc (NASDAQ:ALKS) by 24.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,274 shares of the company’s stock after selling 3,941 shares during the period. HighTower Advisors LLC’s holdings in Alkermes were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ALKS. V Square Quantitative Management LLC acquired a new stake in shares of Alkermes in the third quarter worth approximately $29,000. Signaturefd LLC boosted its stake in Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes during the second quarter worth $116,000. GAMMA Investing LLC raised its position in shares of Alkermes by 83.8% in the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after buying an additional 1,917 shares during the last quarter. Finally, Archer Investment Corp lifted its stake in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Trading Down 0.9 %

NASDAQ ALKS opened at $29.71 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The stock has a market capitalization of $4.81 billion, a P/E ratio of 15.24, a PEG ratio of 1.03 and a beta of 0.49. The firm’s 50-day moving average is $28.81 and its two-hundred day moving average is $27.25. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 10,471 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total transaction of $309,208.63. Following the sale, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. This represents a 9.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,738 shares of company stock worth $4,572,904. 4.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Mizuho increased their price target on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reduced their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group dropped their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.42.

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.