Alkermes Plc (NASDAQ:ALKS) shares were down 2% on Tuesday . The stock traded as low as $55.70 and last traded at $54.58. Approximately 608,585 shares traded hands during trading, a decline of 37% from the average daily volume of 970,280 shares. The stock had previously closed at $55.69.

Several research analysts have weighed in on ALKS shares. UBS Group set a $54.00 target price on shares of Alkermes and gave the stock a “hold” rating in a research report on Friday, October 27th. Mizuho set a $81.00 target price on shares of Alkermes and gave the stock a “buy” rating in a research report on Saturday, October 21st. Zacks Investment Research upgraded shares of Alkermes from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, January 8th. Credit Suisse Group set a $66.00 target price on shares of Alkermes and gave the stock a “buy” rating in a research report on Tuesday, November 28th. Finally, BidaskClub lowered shares of Alkermes from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Alkermes currently has a consensus rating of “Hold” and a consensus price target of $64.17.

The stock has a market cap of $8,559.17, a PE ratio of -50.44 and a beta of 1.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.72 and a current ratio of 3.05.

In related news, SVP James M. Frates sold 20,932 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $50.51, for a total transaction of $1,057,275.32. Following the sale, the senior vice president now owns 164,971 shares in the company, valued at $8,332,685.21. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Shane Cooke sold 6,207 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $60.22, for a total transaction of $373,785.54. Following the sale, the insider now owns 80,915 shares in the company, valued at approximately $4,872,701.30. The disclosure for this sale can be found here. Insiders sold 135,485 shares of company stock worth $8,227,502 over the last quarter. Company insiders own 5.34% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in ALKS. Thornburg Investment Management Inc. boosted its position in Alkermes by 39.8% during the third quarter. Thornburg Investment Management Inc. now owns 2,779,364 shares of the company’s stock worth $141,303,000 after acquiring an additional 790,692 shares during the last quarter. Janus Henderson Group PLC boosted its position in Alkermes by 13.7% during the third quarter. Janus Henderson Group PLC now owns 2,650,006 shares of the company’s stock worth $134,726,000 after acquiring an additional 319,014 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Alkermes by 6,353.1% during the third quarter. Asset Management One Co. Ltd. now owns 234,377 shares of the company’s stock worth $11,924,000 after acquiring an additional 230,745 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Alkermes by 206.3% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 261,977 shares of the company’s stock worth $13,319,000 after acquiring an additional 176,442 shares during the last quarter. Finally, AXA acquired a new stake in Alkermes during the third quarter worth approximately $8,487,000. Hedge funds and other institutional investors own 99.31% of the company’s stock.

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Alkermes Company Profile

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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