Pacer Advisors Inc. Sells 1,475,252 Shares of Alkermes plc (NASDAQ:ALKS)

Pacer Advisors Inc. lowered its position in shares of Alkermes plc (NASDAQ:ALKS) by 26.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,165,390 shares of the company’s stock after selling 1,475,252 shares during the period. Pacer Advisors Inc. owned approximately 2.57% of Alkermes worth $116,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in shares of Alkermes in the 3rd quarter worth approximately $29,000. Signaturefd LLC lifted its position in Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares in the last quarter. Finally, Archer Investment Corp increased its stake in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 0.4 %

Shares of NASDAQ:ALKS opened at $27.79 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $27.84 and its 200 day moving average is $26.31. The stock has a market cap of $4.50 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.91 and a beta of 0.47. Alkermes plc has a 52-week low of $22.22 and a 52-week high of $32.88.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Robert W. Baird boosted their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Mizuho lifted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. Finally, The Goldman Sachs Group cut their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the company’s stock in a transaction on Monday, November 11th. The stock was 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 $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.89% of the stock is owned by insiders.

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.