Glenmede Trust Co. NA Has $14.52 Million Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Glenmede Trust Co. NA cut its position in Alkermes plc (NASDAQ:ALKS) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 518,577 shares of the company’s stock after selling 5,537 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.32% of Alkermes worth $14,515,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ALKS. Wedge Capital Management L L P NC bought a new stake in shares of Alkermes in the second quarter valued at approximately $2,662,000. Harbor Capital Advisors Inc. grew its position in Alkermes by 120.3% during the second quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company’s stock worth $1,152,000 after buying an additional 26,112 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Alkermes by 26.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 221,257 shares of the company’s stock worth $5,990,000 after buying an additional 45,903 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Alkermes during the second quarter valued at about $1,285,000. Finally, Natixis Advisors LLC lifted its position in shares of Alkermes by 190.3% in the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after acquiring an additional 23,921 shares during the period. Institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 58,996 shares of Alkermes stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 83,300 shares in the company, valued at $2,505,664. This trade represents a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the sale, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,675 shares of company stock worth $2,235,622. Insiders own 4.89% of the company’s stock.

Alkermes Stock Performance

Shares of Alkermes stock opened at $29.32 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The firm has a 50 day simple moving average of $28.00 and a 200 day simple moving average of $26.49. Alkermes plc has a fifty-two week low of $22.22 and a fifty-two week high of $32.88. The firm has a market cap of $4.74 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.98 and a beta of 0.47.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALKS. Cantor Fitzgerald cut their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group dropped their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. HC Wainwright reissued a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. Mizuho increased their price target 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. Finally, Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and lifted their price objective for the company from $25.00 to $36.00 in a report 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Company 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.