Wilmington Savings Fund Society FSB Takes $582,000 Position in Alkermes plc (NASDAQ:ALKS)

Wilmington Savings Fund Society FSB bought a new position in Alkermes plc (NASDAQ:ALKS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,783 shares of the company’s stock, valued at approximately $582,000.

Several other hedge funds have also modified their holdings of the stock. Sanctuary Advisors LLC raised its stake in Alkermes by 254.5% during the third quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock worth $944,000 after purchasing an additional 23,541 shares during the period. Hohimer Wealth Management LLC acquired a new stake in shares of Alkermes during the 3rd quarter worth $315,000. Frazier Life Sciences Management L.P. purchased a new position in shares of Alkermes in the 3rd quarter worth $16,126,000. Barclays PLC boosted its holdings in Alkermes by 108.8% in the third quarter. Barclays PLC now owns 423,931 shares of the company’s stock valued at $11,867,000 after acquiring an additional 220,893 shares during the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new stake in Alkermes during the third quarter valued at about $264,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Trading Up 0.0 %

Shares of ALKS opened at $30.51 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. Alkermes plc has a one year low of $22.90 and a one year high of $32.88. The stock has a 50-day moving average price of $28.54 and a 200 day moving average price of $27.02. The company has a market capitalization of $4.94 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.03 and a beta of 0.49.

Wall Street Analyst Weigh In

ALKS has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Mizuho lifted their price target on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 61,151 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the transaction, the executive vice president now owns 47,576 shares of the company’s stock, valued at approximately $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of Alkermes 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 completion of the transaction, the senior vice president now 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 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 currently owned by insiders.

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.