Alkermes plc (NASDAQ:ALKS) Short Interest Update

Alkermes plc (NASDAQ:ALKS) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 13,710,000 shares, a decline of 17.2% from the November 15th total of 16,560,000 shares. Approximately 8.6% of the company’s stock are sold short. Based on an average daily volume of 1,730,000 shares, the short-interest ratio is presently 7.9 days.

Alkermes Price Performance

ALKS opened at $30.51 on Monday. The stock has a market capitalization of $4.94 billion, a P/E ratio of 15.65, a PEG ratio of 1.03 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes has a 12-month low of $22.90 and a 12-month high of $32.88. The stock has a 50-day moving average price of $28.54 and a 200-day moving average price of $27.02.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced 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. HC Wainwright restated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Mizuho lifted their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note 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. Finally, Cantor Fitzgerald dropped their price objective 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Insider Buying and Selling at Alkermes

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 23,013 shares in the company, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 83,300 shares in the company, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,738 shares of company stock valued at $4,572,904. Corporate insiders own 4.89% of the company’s stock.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently made changes to their positions in ALKS. V Square Quantitative Management LLC purchased a new stake in Alkermes during the 3rd quarter valued at about $29,000. Signaturefd LLC boosted its holdings in shares of Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Alkermes in the second quarter worth about $116,000. GAMMA Investing LLC raised its position in Alkermes by 83.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Archer Investment Corp boosted its holdings in Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after acquiring an additional 1,000 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

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.