Alkermes plc (NASDAQ:ALKS) Shares Bought by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P raised its stake in Alkermes plc (NASDAQ:ALKS) by 365.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,882,936 shares of the company’s stock after purchasing an additional 1,478,422 shares during the period. Loomis Sayles & Co. L P’s holdings in Alkermes were worth $52,704,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC increased its holdings in Alkermes by 21.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,976 shares of the company’s stock valued at $324,000 after buying an additional 2,097 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Alkermes by 19.6% in the 1st quarter. Advisors Asset Management Inc. now owns 29,886 shares of the company’s stock valued at $809,000 after acquiring an additional 4,891 shares during the last quarter. Lazard Asset Management LLC raised its position in shares of Alkermes by 655.0% during the 1st quarter. Lazard Asset Management LLC now owns 77,102 shares of the company’s stock valued at $2,087,000 after acquiring an additional 66,890 shares in the last quarter. Bayesian Capital Management LP bought a new position in Alkermes during the first quarter worth $333,000. Finally, Tidal Investments LLC acquired a new position in Alkermes in the first quarter worth $441,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALKS. Piper Sandler reissued an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. HC Wainwright reissued a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and raised their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Price Performance

NASDAQ ALKS opened at $29.36 on Tuesday. Alkermes plc has a 1 year low of $22.22 and a 1 year high of $32.88. The stock’s 50-day moving average price is $27.92 and its two-hundred day moving average price is $26.42. The company has a market cap of $4.75 billion, a PE ratio of 15.06, a PEG ratio of 0.96 and a beta of 0.47. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction on 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 owns 83,300 shares of the company’s stock, valued at $2,505,664. This trade represents a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 4.89% of the stock is currently owned by insiders.

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.