Alkermes plc (NASDAQ:ALKS) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Alkermes plc (NASDAQ:ALKS) by 45.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,116 shares of the company’s stock after selling 9,283 shares during the quarter. SG Americas Securities LLC’s holdings in Alkermes were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALKS. Nisa Investment Advisors LLC increased its holdings in Alkermes by 2.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 93,532 shares of the company’s stock worth $2,690,000 after acquiring an additional 2,373 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Alkermes by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 111,909 shares of the company’s stock valued at $3,219,000 after purchasing an additional 1,455 shares during the period. Diversified Trust Co increased its stake in shares of Alkermes by 11.5% during the fourth quarter. Diversified Trust Co now owns 42,509 shares of the company’s stock worth $1,223,000 after purchasing an additional 4,378 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Alkermes by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 120,006 shares of the company’s stock worth $3,486,000 after purchasing an additional 2,903 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in Alkermes in the 3rd quarter valued at about $1,098,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares in the company, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 44,290 shares of the company’s stock, valued at $1,419,494.50. The trade was a 69.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 238,185 shares of company stock worth $7,498,117. 4.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on ALKS shares. HC Wainwright reissued a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. Cantor Fitzgerald reduced their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned 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 target price of $36.00.

Alkermes Trading Up 1.8 %

Shares of Alkermes stock opened at $31.30 on Wednesday. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.68 and a beta of 0.49. The stock has a 50 day moving average of $29.90 and a 200 day moving average of $28.42.

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.