Alkermes plc (NASDAQ:ALKS) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC reduced its stake in Alkermes plc (NASDAQ:ALKS) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,066 shares of the company’s stock after selling 967 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Alkermes were worth $618,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Alkermes in the third quarter valued at about $29,000. Signaturefd LLC lifted its position in shares of Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC grew 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 purchasing an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes during the 2nd quarter valued at $116,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALKS has been the topic of a number of recent analyst reports. Mizuho boosted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group cut their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Cantor Fitzgerald lowered their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th. HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Finally, Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and increased their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Alkermes Stock Up 2.0 %

Shares of Alkermes stock opened at $29.36 on Tuesday. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 0.96 and a beta of 0.47. Alkermes plc has a twelve month low of $22.22 and a twelve month high of $32.88. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $27.92 and its 200-day simple moving average is $26.42.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 58,996 shares of Alkermes stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.89% of the company’s stock.

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.