Martingale Asset Management L P Acquires 8,928 Shares of Alkermes plc (NASDAQ:ALKS)

Martingale Asset Management L P boosted its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,273 shares of the company’s stock after purchasing an additional 8,928 shares during the period. Martingale Asset Management L P owned about 0.06% of Alkermes worth $2,611,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ALKS. Wedge Capital Management L L P NC bought a new stake in Alkermes in the second quarter valued at $2,662,000. Harbor Capital Advisors Inc. grew its holdings in shares of Alkermes by 120.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 47,812 shares of the company’s stock worth $1,152,000 after purchasing an additional 26,112 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Alkermes during the 2nd quarter valued at about $1,285,000. Natixis Advisors LLC boosted its position in Alkermes by 190.3% in the third quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock valued at $1,021,000 after buying an additional 23,921 shares in the last quarter. Finally, Affinity Asset Advisors LLC grew its stake in Alkermes by 766.7% during the second quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock worth $15,665,000 after buying an additional 575,000 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Price Performance

Alkermes stock opened at $29.02 on Friday. The firm has a market capitalization of $4.70 billion, a P/E ratio of 14.88, a PEG ratio of 0.97 and a beta of 0.47. The business has a 50-day moving average of $28.01 and a 200-day moving average of $26.54. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $32.88.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the company’s stock in a transaction on Monday, November 11th. The shares were 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 in the company, valued at $2,505,664. This represents a 41.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the transaction, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,675 shares of company stock worth $2,235,622. 4.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on ALKS shares. Mizuho boosted their target price on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reissued a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered 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. Cantor Fitzgerald reduced their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Finally, The Goldman Sachs Group dropped their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. 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. According to data from MarketBeat.com, the stock 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.