Assenagon Asset Management S.A. Sells 6,483 Shares of Alkermes plc (NASDAQ:ALKS)

Assenagon Asset Management S.A. lessened its stake in shares of Alkermes plc (NASDAQ:ALKS) by 7.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,968 shares of the company’s stock after selling 6,483 shares during the period. Assenagon Asset Management S.A.’s holdings in Alkermes were worth $2,238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Alkermes during the third quarter valued at approximately $29,000. Signaturefd LLC raised its stake in Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after buying an additional 1,498 shares in the last quarter. GAMMA Investing LLC raised its stake in Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after buying an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Alkermes in the second quarter worth approximately $116,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of ALKS opened at $25.70 on Friday. Alkermes plc has a 1-year low of $22.06 and a 1-year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The firm has a market capitalization of $4.16 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The company’s fifty day moving average price is $27.68 and its 200-day moving average price is $25.89.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. HC Wainwright reissued a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Robert W. Baird lifted their price target on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Finally, Cantor Fitzgerald cut their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.90.

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.