Public Sector Pension Investment Board Decreases Position in Alkermes plc (NASDAQ:ALKS)

Public Sector Pension Investment Board reduced its stake in shares of Alkermes plc (NASDAQ:ALKS) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 349,417 shares of the company’s stock after selling 22,900 shares during the quarter. Public Sector Pension Investment Board owned 0.22% of Alkermes worth $9,780,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALKS. BNP Paribas Financial Markets lifted its stake 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 worth $4,184,000 after acquiring an additional 63,939 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Alkermes by 365.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock worth $52,704,000 after purchasing an additional 1,478,422 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Alkermes by 8.6% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 15,704 shares of the company’s stock valued at $440,000 after purchasing an additional 1,248 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Alkermes by 7.5% in the 3rd quarter. Fisher Asset Management LLC now owns 260,785 shares of the company’s stock valued at $7,299,000 after purchasing an additional 18,147 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Alkermes by 56.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,241 shares of the company’s stock valued at $371,000 after buying an additional 4,800 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the sale, the senior vice president now owns 60,703 shares of the company’s stock, valued at $1,769,492.45. The trade was a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig C. Hopkinson sold 10,471 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the transaction, the executive vice president now owns 99,238 shares of the company’s stock, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,675 shares of company stock valued at $2,235,622. 4.89% of the stock is currently owned by company insiders.

Alkermes Price Performance

Shares of ALKS opened at $29.32 on Friday. Alkermes plc has a 12 month low of $22.22 and a 12 month high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The stock has a fifty day moving average price of $28.00 and a 200 day moving average price of $26.49. The company has a market cap of $4.74 billion, a P/E ratio of 15.04, a PEG ratio of 0.98 and a beta of 0.47.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of research analyst reports. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered 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, Cantor Fitzgerald reduced their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

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.