Alkermes plc (NASDAQ:ALKS) Shares Acquired by Archer Investment Corp

Archer Investment Corp increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 28.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,500 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Archer Investment Corp’s holdings in Alkermes were worth $126,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Alkermes by 421.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after buying an additional 6,730,671 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Alkermes by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after acquiring an additional 1,362,079 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Alkermes by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock valued at $69,507,000 after purchasing an additional 371,039 shares during the period. Armistice Capital LLC increased its position in Alkermes by 301.5% during the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after purchasing an additional 2,026,961 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Alkermes by 87.1% during the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after purchasing an additional 1,025,905 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.89% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ALKS. The Goldman Sachs Group reduced their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and upped their price target for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. HC Wainwright restated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a report on Friday, October 25th. Finally, StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Price Performance

Alkermes stock opened at $28.19 on Friday. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $27.79 and a 200-day simple moving average of $26.22. The stock has a market cap of $4.56 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. Alkermes plc has a 12-month low of $22.06 and a 12-month high of $32.88.

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.