AMG National Trust Bank Increases Stake in Alkermes plc (NASDAQ:ALKS)

AMG National Trust Bank raised its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 68.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,645 shares of the company’s stock after purchasing an additional 24,200 shares during the quarter. AMG National Trust Bank’s holdings in Alkermes were worth $1,669,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Alkermes by 421.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after buying an additional 6,730,671 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Alkermes by 31.8% during the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after acquiring an additional 1,362,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Alkermes by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock worth $69,507,000 after acquiring an additional 371,039 shares during the period. Armistice Capital LLC grew its position in shares of Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after purchasing an additional 2,026,961 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Alkermes by 87.1% during the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after purchasing an additional 1,025,905 shares during the period. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKS has been the subject of a number of recent analyst reports. Mizuho lifted their target price on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. The Goldman Sachs Group decreased their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, HC Wainwright restated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. One 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.42.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the sale, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. This represents a 9.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.89% of the stock is owned by corporate insiders.

Alkermes Stock Down 2.3 %

Shares of NASDAQ ALKS opened at $27.55 on Tuesday. The stock has a market capitalization of $4.46 billion, a P/E ratio of 14.46, a PEG ratio of 0.94 and a beta of 0.47. Alkermes plc has a one year low of $22.22 and a one year high of $32.88. The firm’s 50 day simple moving average is $27.79 and its two-hundred day simple moving average is $26.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03.

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.