Alkermes plc (NASDAQ:ALKS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in Alkermes plc (NASDAQ:ALKS) by 11.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 24,767 shares of the company’s stock after selling 3,047 shares during the period. Mutual of America Capital Management LLC’s holdings in Alkermes were worth $693,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ALKS. Armistice Capital LLC lifted its holdings in shares of Alkermes by 301.5% in the 2nd 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 during the period. Pacer Advisors Inc. lifted its holdings in Alkermes by 31.8% in the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after acquiring an additional 1,362,079 shares during the period. American Century Companies Inc. lifted its holdings in 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 acquiring an additional 1,025,905 shares during the period. Affinity Asset Advisors LLC boosted its position in shares of Alkermes by 766.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock worth $15,665,000 after purchasing an additional 575,000 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Alkermes by 89.4% during the 2nd quarter. AQR Capital Management LLC now owns 803,504 shares of the company’s stock worth $19,364,000 after purchasing an additional 379,240 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS opened at $29.25 on Wednesday. The firm has a fifty day moving average of $27.95 and a 200-day moving average of $26.45. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47. 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 1 year low of $22.22 and a 1 year high of $32.88.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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. This trade represents a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.89% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ALKS shares. JPMorgan Chase & Co. dropped their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note 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 for the company in a research note on Friday, October 25th. HC Wainwright reissued a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Finally, Cantor Fitzgerald reduced their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $35.42.

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.