Rice Hall James & Associates LLC Cuts Position in Alkermes plc (NASDAQ:ALKS)

Rice Hall James & Associates LLC trimmed its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,657 shares of the company’s stock after selling 16,102 shares during the period. Rice Hall James & Associates LLC owned about 0.27% of Alkermes worth $12,642,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes during the 3rd quarter worth approximately $29,000. Signaturefd LLC lifted 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 buying an additional 480 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after buying an additional 1,498 shares during the period. GAMMA Investing LLC grew its stake in Alkermes by 44.4% in 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. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Alkermes during the 2nd quarter valued at $116,000. Institutional investors own 95.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ALKS shares. Piper Sandler restated an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. Robert W. Baird raised their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. cut their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.90.

Alkermes Price Performance

Shares of ALKS stock opened at $25.70 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.56 and a beta of 0.46. The business’s fifty day moving average is $27.68 and its 200 day moving average is $25.89. Alkermes plc has a twelve month low of $22.06 and a twelve month high of $32.88.

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.