KBC Group NV Grows Stock Position in Alkermes plc (NASDAQ:ALKS)

KBC Group NV lifted its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 46.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,176 shares of the company’s stock after acquiring an additional 2,286 shares during the period. KBC Group NV’s holdings in Alkermes were worth $206,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ALKS. Centiva Capital LP purchased a new stake in Alkermes during the 3rd quarter worth approximately $367,000. Natixis Advisors LLC lifted its position in Alkermes by 190.3% during the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after acquiring an additional 23,921 shares during the period. Vontobel Holding Ltd. lifted its position in Alkermes by 128.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company’s stock worth $1,575,000 after acquiring an additional 31,687 shares during the period. Sanctuary Advisors LLC grew its stake in Alkermes by 254.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock valued at $944,000 after purchasing an additional 23,541 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Alkermes by 74.7% in the third quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company’s stock valued at $4,184,000 after purchasing an additional 63,939 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total value of $3,234,421.90. Following the sale, the executive vice president now owns 44,290 shares of the company’s stock, valued at $1,419,494.50. The trade was a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 60,703 shares in the company, valued at $1,769,492.45. This represents a 7.90 % 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 brokerages recently commented on ALKS. Mizuho upped their target price on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald cut their price objective 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. Piper Sandler reissued an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

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.