Alkermes (ALKS) Trading 5.7% Higher
Alkermes Plc (NASDAQ:ALKS)’s share price rose 5.7% during mid-day trading on Tuesday . The stock traded as high as $56.80 and last traded at $56.64. Approximately 953,248 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 755,225 shares. The stock had previously closed at $53.61.
ALKS has been the subject of several research analyst reports. Mizuho set a $81.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Saturday, October 21st. Credit Suisse Group set a $66.00 price objective on shares of Alkermes and gave the company a “buy” rating in a research note on Tuesday, November 28th. Zacks Investment Research upgraded shares of Alkermes from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday. ValuEngine downgraded shares of Alkermes from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Finally, UBS Group set a $54.00 price objective on shares of Alkermes and gave the company a “hold” rating in a research note on Friday, October 27th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $63.33.
The company has a market cap of $9,030.00, a P/E ratio of -52.89 and a beta of 2.13. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.05 and a quick ratio of 2.72.
In other news, SVP Michael J. Landine sold 15,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $48.71, for a total transaction of $730,650.00. Following the completion of the sale, the senior vice president now owns 178,693 shares in the company, valued at $8,704,136.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Mitchell sold 1,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $51.98, for a total transaction of $51,980.00. Following the transaction, the director now directly owns 9,000 shares of the company’s stock, valued at $467,820. The disclosure for this sale can be found here. Insiders have sold 136,417 shares of company stock valued at $7,259,391 in the last quarter. Insiders own 5.34% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ALKS. Toronto Dominion Bank raised its holdings in Alkermes by 12.7% during the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after purchasing an additional 212 shares in the last quarter. Quantbot Technologies LP purchased a new position in Alkermes during the third quarter worth about $126,000. Virtu Financial LLC purchased a new position in Alkermes during the third quarter worth about $201,000. Dynamic Technology Lab Private Ltd purchased a new position in Alkermes during the third quarter worth about $214,000. Finally, Trexquant Investment LP purchased a new position in Alkermes during the third quarter worth about $218,000. 99.17% of the stock is owned by hedge funds and other institutional investors.
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Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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