XTX Topco Ltd Makes New Investment in Alkermes plc (NASDAQ:ALKS)

XTX Topco Ltd acquired a new position in Alkermes plc (NASDAQ:ALKS) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 15,619 shares of the company’s stock, valued at approximately $437,000.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Alkermes in the 3rd quarter worth approximately $29,000. Signaturefd LLC grew its stake in shares of Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the last quarter. GAMMA Investing LLC grew 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 worth $118,000 after purchasing an additional 1,917 shares during the last quarter. Archer Investment Corp grew 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 worth $126,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes in the 2nd quarter worth approximately $116,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS opened at $30.51 on Friday. The company’s 50 day moving average price is $28.54 and its 200 day moving average price is $26.99. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $32.88. The company has a market capitalization of $4.94 billion, a PE ratio of 15.65, a PEG ratio of 1.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALKS shares. 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 note on Wednesday, November 13th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and lifted their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Cantor Fitzgerald dropped their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $35.42.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 61,151 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the sale, the executive vice president now directly owns 47,576 shares in the company, valued at $1,525,762.32. The trade was a 56.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares of the company’s stock, valued at $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,738 shares of company stock valued at $4,572,904. 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.