Fisher Asset Management LLC Acquires 18,147 Shares of Alkermes plc (NASDAQ:ALKS)

Fisher Asset Management LLC raised its holdings in Alkermes plc (NASDAQ:ALKS) by 7.5% during the third quarter, HoldingsChannel.com reports. The fund owned 260,785 shares of the company’s stock after purchasing an additional 18,147 shares during the period. Fisher Asset Management LLC’s holdings in Alkermes were worth $7,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. EFG Asset Management North America Corp. boosted its stake in shares of Alkermes by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock valued at $1,828,000 after purchasing an additional 359 shares in the last quarter. United Services Automobile Association boosted its stake in shares of Alkermes by 3.1% during the second quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock valued at $318,000 after purchasing an additional 400 shares in the last quarter. Signaturefd LLC boosted its stake in shares of 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. Handelsbanken Fonder AB boosted its stake in shares of Alkermes by 0.3% during the third quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock valued at $6,175,000 after purchasing an additional 700 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of 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. 95.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALKS shares. Mizuho lifted their price target on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group cut their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Cantor Fitzgerald cut their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. cut their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Activity

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 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. The trade was a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the sale, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,675 shares of company stock worth $2,235,622 over the last quarter. 4.89% of the stock is currently owned by corporate insiders.

Alkermes Price Performance

Shares of ALKS opened at $29.32 on Friday. Alkermes plc has a 52-week low of $22.22 and a 52-week high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The business’s 50 day moving average price is $28.00 and its two-hundred day moving average price is $26.49. The firm has a market cap of $4.74 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

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.