Alkermes plc (NASDAQ:ALKS) Stock Holdings Lessened by Burney Co.

Burney Co. cut its stake in shares of Alkermes plc (NASDAQ:ALKS) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,185 shares of the company’s stock after selling 4,147 shares during the quarter. Burney Co.’s holdings in Alkermes were worth $437,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in Alkermes in the 2nd quarter worth about $1,285,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alkermes by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 54,817 shares of the company’s stock worth $1,321,000 after buying an additional 1,840 shares during the period. Dimensional Fund Advisors LP increased its position 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 worth $69,507,000 after acquiring an additional 371,039 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Alkermes by 6.8% during the second quarter. Edgestream Partners L.P. now owns 85,023 shares of the company’s stock valued at $2,049,000 after acquiring an additional 5,414 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Alkermes by 30.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,078 shares of the company’s stock valued at $410,000 after acquiring an additional 4,032 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALKS. Cantor Fitzgerald cut their target price 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. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and raised their price target for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Alkermes Stock Down 0.9 %

Shares of Alkermes stock opened at $29.47 on Friday. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $32.88. The stock has a market capitalization of $4.77 billion, a P/E ratio of 15.11, a PEG ratio of 1.44 and a beta of 0.49. 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 stock has a 50 day moving average price of $29.36 and a two-hundred day moving average price of $27.83.

Insider Buying and Selling

In related news, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig C. Hopkinson sold 61,151 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the transaction, the executive vice president now directly owns 47,576 shares in the company, valued at approximately $1,525,762.32. This represents a 56.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,738 shares of company stock valued at $4,572,904. Company insiders own 4.89% of the company’s stock.

About Alkermes

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.