Alkermes plc (NASDAQ:ALKS) Shares Bought by Creative Planning

Creative Planning lifted its position in shares of Alkermes plc (NASDAQ:ALKS) by 51.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,629 shares of the company’s stock after purchasing an additional 17,264 shares during the period. Creative Planning’s holdings in Alkermes were worth $1,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALKS. First Trust Direct Indexing L.P. purchased a new stake in Alkermes during the 1st quarter worth $222,000. Capstone Investment Advisors LLC purchased a new stake in shares of Alkermes during the first quarter worth about $883,000. Daiwa Securities Group Inc. lifted its stake in shares of Alkermes by 380.5% in the first quarter. Daiwa Securities Group Inc. now owns 8,461 shares of the company’s stock worth $229,000 after acquiring an additional 6,700 shares in the last quarter. Jennison Associates LLC boosted its holdings in Alkermes by 24.9% in the first quarter. Jennison Associates LLC now owns 45,371 shares of the company’s stock valued at $1,228,000 after purchasing an additional 9,036 shares during the last quarter. Finally, Nicollet Investment Management Inc. grew its stake in Alkermes by 60.5% during the 1st quarter. Nicollet Investment Management Inc. now owns 43,992 shares of the company’s stock valued at $1,191,000 after purchasing an additional 16,583 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Stock Down 0.3 %

NASDAQ:ALKS opened at $26.44 on Wednesday. The firm has a market capitalization of $4.47 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. Alkermes plc has a 52 week low of $22.06 and a 52 week high of $32.88. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $27.76 and a 200-day moving average of $25.89.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of recent analyst reports. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. The Goldman Sachs Group reduced their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Cantor Fitzgerald dropped their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.90.

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.