Sumitomo Mitsui Trust Group Inc. Sells 1,600 Shares of Alkermes plc (NASDAQ:ALKS)

Sumitomo Mitsui Trust Group Inc. decreased its position in Alkermes plc (NASDAQ:ALKS) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,400 shares of the company’s stock after selling 1,600 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Alkermes were worth $319,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes during the 3rd quarter valued at about $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 worth $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after buying an additional 1,498 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after buying an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Alkermes in the second quarter worth approximately $116,000. Institutional investors own 95.21% of the company’s stock.

Insider Activity

In related 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 value of $1,774,599.68. Following the sale, the executive vice president now owns 83,300 shares in the company, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.89% of the company’s stock.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Robert W. Baird raised their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Finally, Cantor Fitzgerald decreased their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Trading Up 1.6 %

Alkermes stock opened at $27.91 on Thursday. The stock has a market cap of $4.52 billion, a P/E ratio of 14.31, a PEG ratio of 0.94 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes plc has a 1 year low of $22.22 and a 1 year high of $32.88. The firm’s 50 day moving average price is $27.81 and its 200-day moving average price is $26.30.

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.