Daiwa SB Investments Ltd. boosted its position in shares of Alkermes Plc (NASDAQ:ALKS) by 116.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,189 shares of the company’s stock after purchasing an additional 3,324 shares during the period. Daiwa SB Investments Ltd.’s holdings in Alkermes were worth $339,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in Alkermes by 12.7% during the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after purchasing an additional 212 shares during the period. Quantbot Technologies LP purchased a new position in Alkermes during the third quarter worth about $126,000. Virtu Financial LLC purchased a new position in Alkermes during the third quarter worth about $201,000. Dynamic Technology Lab Private Ltd purchased a new position in Alkermes during the third quarter worth about $214,000. Finally, Trexquant Investment LP purchased a new position in Alkermes during the third quarter worth about $218,000. 99.17% of the stock is currently owned by institutional investors.
Shares of Alkermes Plc (ALKS) opened at $58.71 on Friday. Alkermes Plc has a 12-month low of $46.42 and a 12-month high of $63.40. The firm has a market cap of $9,030.00, a PE ratio of -52.89 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.
A number of equities analysts have commented on ALKS shares. Barclays downgraded shares of Alkermes from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $66.00 to $50.00 in a research note on Monday, October 16th. Mizuho set a $81.00 target price on shares of Alkermes and gave the stock a “buy” rating in a research note on Saturday, October 21st. ValuEngine downgraded shares of Alkermes from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Citigroup set a $62.00 price target on shares of Alkermes and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Credit Suisse Group dropped their price target on shares of Alkermes from $70.00 to $66.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $63.33.
In related news, Director Richard F. Pops sold 50,000 shares of Alkermes stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $48.87, for a total value of $2,443,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Iain Michael Brown sold 10,652 shares of Alkermes stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $54.81, for a total transaction of $583,836.12. Following the completion of the transaction, the chief accounting officer now owns 16,943 shares of the company’s stock, valued at approximately $928,645.83. The disclosure for this sale can be found here. Insiders sold 136,417 shares of company stock valued at $7,259,391 in the last 90 days. Company insiders own 5.34% of the company’s stock.
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Alkermes Company Profile
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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