Martingale Asset Management L P Purchases 8,928 Shares of Alkermes plc (NASDAQ:ALKS)

Martingale Asset Management L P boosted its position in Alkermes plc (NASDAQ:ALKS) by 10.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,273 shares of the company’s stock after buying an additional 8,928 shares during the quarter. Martingale Asset Management L P’s holdings in Alkermes were worth $2,611,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ALKS. V Square Quantitative Management LLC bought a new stake in Alkermes during the third quarter worth about $29,000. Signaturefd LLC boosted its holdings in shares of Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after buying an additional 1,498 shares in the last quarter. GAMMA Investing LLC raised its position in Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes in the second quarter valued at $116,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

ALKS stock opened at $29.02 on Friday. The company has a market capitalization of $4.70 billion, a P/E ratio of 14.88, a PEG ratio of 0.97 and a beta of 0.47. The company has a fifty day moving average price of $28.01 and a 200-day moving average price of $26.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $32.88.

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the sale, the senior vice president now directly owns 60,703 shares in the company, valued at approximately $1,769,492.45. This trade represents a 7.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 directly owns 83,300 shares of the company’s stock, valued at $2,505,664. This represents a 41.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,675 shares of company stock worth $2,235,622 over the last ninety days. 4.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on ALKS shares. JPMorgan Chase & Co. dropped 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. The Goldman Sachs Group cut their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Mizuho lifted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Finally, Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

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.