Alkermes plc (NASDAQ:ALKS) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 45.5% during the 4th quarter, Holdings Channel reports. The firm owned 11,116 shares of the company’s stock after selling 9,283 shares during the period. SG Americas Securities LLC’s holdings in Alkermes were worth $320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in Alkermes by 2.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 93,532 shares of the company’s stock worth $2,690,000 after buying an additional 2,373 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of Alkermes by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 111,909 shares of the company’s stock worth $3,219,000 after acquiring an additional 1,455 shares in the last quarter. Diversified Trust Co grew its stake in shares of Alkermes by 11.5% in the fourth quarter. Diversified Trust Co now owns 42,509 shares of the company’s stock worth $1,223,000 after acquiring an additional 4,378 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Alkermes by 2.5% during the third quarter. Franklin Resources Inc. now owns 120,006 shares of the company’s stock worth $3,486,000 after acquiring an additional 2,903 shares during the period. Finally, Tidal Investments LLC acquired a new stake in shares of Alkermes in the third quarter valued at $1,098,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of ALKS opened at $31.30 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $32.88. The stock has a market cap of $5.06 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.68 and a beta of 0.49. The firm has a fifty day moving average price of $29.90 and a 200 day moving average price of $28.42.

Analyst Upgrades and Downgrades

ALKS has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. The Goldman Sachs Group lowered their price objective on 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 set a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Insider Transactions at Alkermes

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Craig C. Hopkinson sold 100,918 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the sale, the executive vice president now directly owns 44,290 shares of the company’s stock, valued at $1,419,494.50. The trade was a 69.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 238,185 shares of company stock worth $7,498,117. Corporate insiders own 4.89% of the company’s stock.

Alkermes 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.