Advantage Alpha Capital Partners LP Sells 11,980 Shares of Alkermes plc (NASDAQ:ALKS)

Advantage Alpha Capital Partners LP reduced its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 33.9% in the third quarter, Holdings Channel.com reports. The fund owned 23,318 shares of the company’s stock after selling 11,980 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Alkermes were worth $653,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. EFG Asset Management North America Corp. increased its stake in Alkermes by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock worth $1,828,000 after purchasing an additional 359 shares during the period. United Services Automobile Association grew its holdings in shares of Alkermes by 3.1% in the second quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock worth $318,000 after purchasing an additional 400 shares during the last quarter. Signaturefd LLC increased its stake in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares during the period. Handelsbanken Fonder AB lifted its holdings in Alkermes by 0.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock valued at $6,175,000 after buying an additional 700 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after buying an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the transaction, the executive vice president now directly owns 83,300 shares in the company, valued at $2,505,664. The trade was a 41.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALKS. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and raised their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Cantor Fitzgerald lowered their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. HC Wainwright reissued a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.42.

Alkermes Stock Performance

ALKS stock opened at $29.36 on Tuesday. Alkermes plc has a one year low of $22.22 and a one year high of $32.88. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.96 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The firm has a 50-day simple moving average of $27.92 and a two-hundred day simple moving average of $26.42.

About Alkermes

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.