State of Alaska Department of Revenue Sells 2,013 Shares of Alkermes plc (NASDAQ:ALKS)

State of Alaska Department of Revenue reduced its holdings in Alkermes plc (NASDAQ:ALKS) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,956 shares of the company’s stock after selling 2,013 shares during the quarter. State of Alaska Department of Revenue’s holdings in Alkermes were worth $2,644,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P boosted its holdings in Alkermes by 365.5% in the third quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock valued at $52,704,000 after acquiring an additional 1,478,422 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in shares of Alkermes in the 3rd quarter worth about $16,126,000. Barclays PLC boosted its stake in shares of Alkermes by 108.8% during the 3rd quarter. Barclays PLC now owns 423,931 shares of the company’s stock valued at $11,867,000 after purchasing an additional 220,893 shares in the last quarter. Edgestream Partners L.P. increased its position in shares of Alkermes by 218.4% during the third quarter. Edgestream Partners L.P. now owns 270,671 shares of the company’s stock valued at $7,576,000 after buying an additional 185,648 shares during the period. Finally, HealthInvest Partners AB raised its stake in Alkermes by 243.9% in the third quarter. HealthInvest Partners AB now owns 236,610 shares of the company’s stock worth $6,623,000 after buying an additional 167,810 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

Shares of ALKS opened at $31.57 on Monday. The firm has a fifty day simple moving average of $30.08 and a two-hundred day simple moving average of $28.58. The firm has a market cap of $5.11 billion, a PE ratio of 16.19, a P/E/G ratio of 1.83 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $32.88.

Analyst Ratings Changes

ALKS has been the topic of several research reports. Mizuho lifted their price objective on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and boosted their target price for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald decreased their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Insider Buying and Selling

In other news, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value 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 $1,769,492.45. This represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the transaction, the director now directly owns 23,013 shares in the company, valued at approximately $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,189 shares of company stock valued at $5,723,518 over the last 90 days. 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.