Pacer Advisors Inc. Has $99.60 Million Stake in Alkermes plc (NASDAQ:ALKS)

Pacer Advisors Inc. reduced its position in shares of Alkermes plc (NASDAQ:ALKS) by 16.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,463,082 shares of the company’s stock after selling 702,308 shares during the quarter. Pacer Advisors Inc.’s holdings in Alkermes were worth $99,598,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ALKS. Centiva Capital LP purchased a new position in Alkermes during the third quarter valued at approximately $367,000. Natixis Advisors LLC grew its holdings in shares of Alkermes by 190.3% during the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock valued at $1,021,000 after acquiring an additional 23,921 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Alkermes by 128.9% in the third quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company’s stock worth $1,575,000 after acquiring an additional 31,687 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of 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 acquiring an additional 23,541 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Alkermes by 10.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 244,857 shares of the company’s stock valued at $5,901,000 after purchasing an additional 23,600 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. The Goldman Sachs Group decreased their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. Finally, Mizuho increased their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.00.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $31.19 on Monday. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88. The company has a market cap of $5.05 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.56 and a beta of 0.49. The business’s 50 day moving average is $29.51 and its two-hundred day moving average is $28.07. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at $732,964.05. The trade was a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,738 shares of company stock valued at $4,572,904. 4.89% of the stock is owned by company 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.