Everence Capital Management Inc. Has $274,000 Stake in Alkermes plc (NASDAQ:ALKS)

Everence Capital Management Inc. lessened its stake in shares of Alkermes plc (NASDAQ:ALKS) by 48.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,540 shares of the company’s stock after selling 8,840 shares during the quarter. Everence Capital Management Inc.’s holdings in Alkermes were worth $274,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Alkermes in the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alkermes during the 2nd quarter worth $116,000. GAMMA Investing LLC boosted its holdings in shares of Alkermes by 83.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after buying an additional 1,917 shares during the period. Archer Investment Corp grew its stake in Alkermes by 28.6% in the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after buying an additional 1,000 shares during the last quarter. Finally, KBC Group NV raised its holdings in Alkermes by 18.8% in the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after acquiring an additional 774 shares during the period. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 0.2 %

Shares of ALKS opened at $28.54 on Wednesday. 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 stock has a market cap of $4.62 billion, a PE ratio of 14.64, a PEG ratio of 1.03 and a beta of 0.49. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $32.88. The stock has a 50 day simple moving average of $29.12 and a 200-day simple moving average of $27.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ALKS shares. The Goldman Sachs Group dropped 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 Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and increased their price objective for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their target price 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. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Insider Activity

In other news, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total transaction of $151,813.20. Following the sale, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig C. Hopkinson sold 10,471 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the transaction, the executive vice president now directly owns 99,238 shares in the company, valued at approximately $2,930,498.14. This represents a 9.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,738 shares of company stock worth $4,572,904. Corporate insiders own 4.89% of the company’s stock.

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.