Alkermes plc (NASDAQ:ALKS) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its holdings in Alkermes plc (NASDAQ:ALKS) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,392 shares of the company’s stock after selling 564 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Alkermes were worth $159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALKS. V Square Quantitative Management LLC acquired a new position in Alkermes during the third quarter worth $29,000. Blue Trust Inc. raised its holdings in Alkermes by 2,394.5% during the fourth quarter. Blue Trust Inc. now owns 1,821 shares of the company’s stock worth $51,000 after purchasing an additional 1,748 shares during the last quarter. Archer Investment Corp raised its holdings in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV raised its holdings in Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after purchasing an additional 774 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Alkermes during the third quarter worth $216,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the sale, the executive vice president now owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. The trade was a 69.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the business’s stock in a transaction dated 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 directly owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,189 shares of company stock valued at $5,723,518 over the last quarter. Company insiders own 4.89% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $36.00 on Friday. The company has a market cap of $5.82 billion, a P/E ratio of 18.46, a P/E/G ratio of 1.83 and a beta of 0.49. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.06. The business has a fifty day simple moving average of $30.21 and a 200-day simple moving average of $28.68.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 24.92% and a net margin of 22.15%. Equities research analysts forecast that Alkermes plc will post 2.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALKS. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Alkermes in a report on Tuesday. They set a “buy” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. cut their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.08.

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.