Alkermes Plc (NASDAQ:ALKS) shot up 5.7% on Tuesday . The company traded as high as $56.80 and last traded at $56.64. 953,248 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 755,225 shares. The stock had previously closed at $53.61.
A number of research firms have commented on ALKS. Zacks Investment Research raised shares of Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday. BidaskClub raised shares of Alkermes from a “sell” rating to a “hold” rating in a research note on Wednesday, December 27th. ValuEngine raised shares of Alkermes from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Credit Suisse Group set a $66.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, JPMorgan Chase & Co. set a $78.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $63.33.
The company has a market capitalization of $8,710.00, a price-to-earnings ratio of -51.03 and a beta of 2.13. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 3.05.
In other news, SVP James M. Frates sold 20,932 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $47.58, for a total value of $995,944.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard F. Pops sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $48.87, for a total value of $2,443,500.00. The disclosure for this sale can be found here. Insiders sold a total of 136,417 shares of company stock worth $7,259,391 in the last quarter. 5.34% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in ALKS. Janus Henderson Group PLC increased its holdings in Alkermes by 13,784.0% in the second quarter. Janus Henderson Group PLC now owns 2,330,992 shares of the company’s stock worth $135,128,000 after buying an additional 2,314,203 shares during the last quarter. Thornburg Investment Management Inc. increased its holdings in Alkermes by 39.8% in the third quarter. Thornburg Investment Management Inc. now owns 2,779,364 shares of the company’s stock worth $141,303,000 after buying an additional 790,692 shares during the last quarter. Fiera Capital Corp acquired a new position in Alkermes in the second quarter worth approximately $37,717,000. Vanguard Group Inc. increased its holdings in Alkermes by 3.7% in the second quarter. Vanguard Group Inc. now owns 12,546,198 shares of the company’s stock worth $727,303,000 after buying an additional 449,563 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Alkermes by 6,353.1% in the third quarter. Asset Management One Co. Ltd. now owns 234,377 shares of the company’s stock worth $11,924,000 after buying an additional 230,745 shares during the last quarter. Hedge funds and other institutional investors own 99.17% of the company’s stock.
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Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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