Zacks Investment Management Buys 5,254 Shares of Alkermes plc (NASDAQ:ALKS)

Zacks Investment Management lifted its position in Alkermes plc (NASDAQ:ALKS) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,531 shares of the company’s stock after acquiring an additional 5,254 shares during the period. Zacks Investment Management’s holdings in Alkermes were worth $1,946,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised 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 worth $135,939,000 after purchasing an additional 1,362,079 shares during the period. Dimensional Fund Advisors LP raised its holdings in Alkermes by 14.8% during the 2nd 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 during the period. Armistice Capital LLC lifted its stake in Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after buying an additional 2,026,961 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Alkermes by 87.1% in the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after buying an additional 1,025,905 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in shares of Alkermes by 365.5% during the third quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock worth $52,704,000 after acquiring an additional 1,478,422 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction dated 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 of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Craig C. Hopkinson sold 10,471 shares of the company’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 completion of the transaction, the executive vice president now owns 99,238 shares in the company, valued at approximately $2,930,498.14. This trade represents a 9.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 147,738 shares of company stock worth $4,572,904. 4.89% of the stock is owned by company insiders.

Alkermes Price Performance

NASDAQ:ALKS opened at $31.31 on Tuesday. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $28.39 and a 200 day simple moving average of $26.82. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $32.88. The stock has a market capitalization of $5.07 billion, a PE ratio of 16.06, a P/E/G ratio of 1.05 and a beta of 0.49.

Wall Street Analyst Weigh In

Several research firms recently commented on ALKS. JPMorgan Chase & Co. cut their price objective 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. The Goldman Sachs Group cut their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald cut their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. One equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.