Dynamic Technology Lab Private Ltd Grows Stake in Alkermes plc (NASDAQ:ALKS)

Dynamic Technology Lab Private Ltd raised its stake in Alkermes plc (NASDAQ:ALKS) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,704 shares of the company’s stock after acquiring an additional 1,248 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Alkermes were worth $440,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes in the third quarter worth $29,000. Signaturefd LLC grew its stake in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew 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 worth $37,000 after acquiring an additional 1,498 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares during the last quarter. Finally, Archer Investment Corp grew its stake in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALKS. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group dropped their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and increased their price objective for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 5,208 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the transaction, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,675 shares of company stock valued at $2,235,622 over the last quarter. 4.89% of the stock is currently owned by company insiders.

Alkermes Stock Down 1.0 %

NASDAQ ALKS opened at $29.02 on Friday. The stock’s 50-day moving average price is $28.01 and its 200-day moving average price is $26.52. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $32.88. The company has a market capitalization of $4.70 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.97 and a beta of 0.47.

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.