Hohimer Wealth Management LLC Makes New Investment in Alkermes plc (NASDAQ:ALKS)

Hohimer Wealth Management LLC purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 11,243 shares of the company’s stock, valued at approximately $315,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wedge Capital Management L L P NC purchased a new stake in shares of Alkermes during the second quarter worth $2,662,000. Centiva Capital LP bought a new position in Alkermes in the 3rd quarter worth about $367,000. Natixis Advisors LLC boosted its stake in Alkermes by 190.3% in the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after purchasing an additional 23,921 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Alkermes during the 2nd quarter valued at about $1,285,000. Finally, Affinity Asset Advisors LLC increased its position in shares of Alkermes by 766.7% during the second quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock valued at $15,665,000 after buying an additional 575,000 shares during the period. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Down 2.3 %

Shares of ALKS opened at $30.60 on Wednesday. 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 $28.39 and a two-hundred day simple moving average of $26.82. The firm has a market cap of $4.95 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.05 and a beta of 0.49.

Insider Transactions at Alkermes

In related news, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the transaction, the director now owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 61,151 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the sale, the executive vice president now owns 47,576 shares of the company’s stock, 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALKS shares. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and raised their price objective for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group cut their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price target 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 stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reduced their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.