Segall Bryant & Hamill LLC Trims Stock Position in Alkermes plc (NASDAQ:ALKS)

Segall Bryant & Hamill LLC cut its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,183,100 shares of the company’s stock after selling 37,835 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Alkermes were worth $33,115,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALKS. Sei Investments Co. increased its stake in Alkermes by 10.1% during the first quarter. Sei Investments Co. now owns 77,942 shares of the company’s stock worth $2,110,000 after acquiring an additional 7,178 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Alkermes by 9.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company’s stock worth $1,459,000 after acquiring an additional 4,410 shares during the last quarter. Acadian Asset Management LLC increased its stake in Alkermes by 70.6% during the first quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock worth $697,000 after acquiring an additional 10,671 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in Alkermes by 21.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,976 shares of the company’s stock worth $324,000 after acquiring an additional 2,097 shares during the last quarter. Finally, Axxcess Wealth Management LLC increased its stake in Alkermes by 7.6% during the first quarter. Axxcess Wealth Management LLC now owns 24,274 shares of the company’s stock worth $657,000 after acquiring an additional 1,707 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. The Goldman Sachs Group lowered their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Mizuho increased their target price on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and increased their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Insiders Place Their Bets

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’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 value of $1,774,599.68. Following the sale, the executive vice president now owns 83,300 shares of the company’s stock, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.89% of the stock is currently owned by company insiders.

Alkermes Trading Down 0.3 %

NASDAQ:ALKS opened at $27.48 on Wednesday. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $27.80 and its two-hundred day moving average is $26.27. Alkermes plc has a 52 week low of $22.22 and a 52 week high of $32.88. The company has a market cap of $4.45 billion, a PE ratio of 14.09, a P/E/G ratio of 0.94 and a beta of 0.47.

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.