Bleakley Financial Group LLC Has $456,000 Holdings in Alkermes plc (NASDAQ:ALKS)

Bleakley Financial Group LLC increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 37.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,849 shares of the company’s stock after buying an additional 4,335 shares during the quarter. Bleakley Financial Group LLC’s holdings in Alkermes were worth $456,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Alkermes during the 3rd quarter worth $29,000. Blue Trust Inc. raised its stake in shares of Alkermes by 2,394.5% in the 4th quarter. Blue Trust Inc. now owns 1,821 shares of the company’s stock valued at $51,000 after purchasing an additional 1,748 shares during the period. GAMMA Investing LLC raised its stake in shares of Alkermes by 83.8% in 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 period. Archer Investment Corp raised its stake in shares of Alkermes by 28.6% in the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after purchasing an additional 1,000 shares during the period. Finally, KBC Group NV raised its stake in shares of Alkermes by 18.8% in the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after purchasing an additional 774 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Trading Down 1.1 %

Alkermes stock opened at $31.23 on Tuesday. Alkermes plc has a 52 week low of $22.90 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 stock has a market capitalization of $5.05 billion, a P/E ratio of 16.02, a PEG ratio of 1.83 and a beta of 0.49. The stock has a 50-day simple moving average of $30.08 and a 200 day simple moving average of $28.60.

Wall Street Analyst Weigh In

Several analysts have issued reports on ALKS shares. JPMorgan Chase & Co. dropped their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. 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. Cantor Fitzgerald dropped their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. Finally, HC Wainwright restated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the transaction, the executive vice president now owns 44,290 shares in the company, valued at approximately $1,419,494.50. This trade represents a 69.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the transaction, the director now owns 23,013 shares of the company’s stock, valued at $732,964.05. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,189 shares of company stock worth $5,723,518. Company 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.