US Bancorp DE Boosts Stock Position in Alkermes plc (NASDAQ:ALKS)

US Bancorp DE raised its stake in Alkermes plc (NASDAQ:ALKS) by 48.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,302 shares of the company’s stock after purchasing an additional 3,378 shares during the quarter. US Bancorp DE’s holdings in Alkermes were worth $288,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC acquired a new stake in shares of Alkermes during the third quarter worth $29,000. Signaturefd LLC boosted its holdings in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after acquiring an additional 480 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares during the period. GAMMA Investing LLC increased its stake in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Alkermes during the second quarter worth about $116,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 10,471 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the sale, the executive vice president now owns 99,238 shares in the company, valued at approximately $2,930,498.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 83,300 shares of the company’s stock, valued at approximately $2,505,664. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,930,498.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.89% of the stock is owned by insiders.

Alkermes Price Performance

ALKS opened at $29.24 on Thursday. Alkermes plc has a 1 year low of $22.06 and a 1 year high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The company’s 50 day simple moving average is $27.71 and its 200 day simple moving average is $26.16. The stock has a market capitalization of $4.73 billion, a PE ratio of 14.94, a P/E/G ratio of 0.98 and a beta of 0.47.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group reduced 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. Cantor Fitzgerald lowered their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and increased their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.