Geode Capital Management LLC Sells 60,037 Shares of Alkermes plc (NASDAQ:ALKS)

Geode Capital Management LLC lowered its position in Alkermes plc (NASDAQ:ALKS) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,873,927 shares of the company’s stock after selling 60,037 shares during the quarter. Geode Capital Management LLC owned about 2.39% of Alkermes worth $108,452,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Alkermes during the 3rd quarter valued at $29,000. Signaturefd LLC raised its stake in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Alkermes during the 2nd quarter worth about $116,000. GAMMA Investing LLC boosted its stake in Alkermes by 83.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after purchasing an additional 1,917 shares during the period. Finally, Archer Investment Corp grew its holdings in Alkermes by 28.6% during the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other news, Director Cato T. Laurencin sold 2,691 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig C. Hopkinson sold 61,151 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $32.07, for a total value of $1,961,112.57. Following the transaction, the executive vice president now owns 47,576 shares in the company, valued at approximately $1,525,762.32. The trade was a 56.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,738 shares of company stock worth $4,572,904. 4.89% of the stock is currently owned by insiders.

Alkermes Stock Down 2.2 %

Shares of ALKS opened at $30.07 on Thursday. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The stock has a 50 day simple moving average of $28.74 and a two-hundred day simple moving average of $27.14. The firm has a market cap of $4.87 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.03 and a beta of 0.49.

Analyst Ratings Changes

A number of research firms have recently commented on ALKS. Cantor Fitzgerald cut their price objective on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Mizuho boosted their price target on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. One equities 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 presently has an average rating of “Moderate Buy” and a consensus target price of $35.42.

Alkermes 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.