Persistent Asset Partners Ltd Purchases Shares of 16,541 Alkermes plc $ALKS

Persistent Asset Partners Ltd acquired a new position in Alkermes plc (NASDAQ:ALKS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,541 shares of the company’s stock, valued at approximately $496,000.

Several other hedge funds have also modified their holdings of the company. Assetmark Inc. lifted its stake in shares of Alkermes by 933.8% in the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 747 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Alkermes by 395.6% during the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after purchasing an additional 989 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Alkermes in the second quarter worth about $49,000. Osaic Holdings Inc. increased its stake in Alkermes by 56.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after buying an additional 701 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in Alkermes by 163.3% during the 3rd quarter. Bessemer Group Inc. now owns 2,222 shares of the company’s stock valued at $67,000 after buying an additional 1,378 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Shane Cooke sold 61,200 shares of Alkermes stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the completion of the transaction, the director directly owned 103,744 shares of the company’s stock, valued at $3,586,430.08. The trade was a 37.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $33.93, for a total transaction of $305,370.00. Following the completion of the transaction, the executive vice president owned 57,740 shares of the company’s stock, valued at approximately $1,959,118.20. This trade represents a 13.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 148,148 shares of company stock worth $5,028,378 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Alkermes Price Performance

NASDAQ:ALKS opened at $32.00 on Friday. The firm has a market capitalization of $5.28 billion, a P/E ratio of 15.84 and a beta of 0.49. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.32. The company’s fifty day moving average price is $31.13 and its 200-day moving average price is $29.99.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC upped their target price on shares of Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Bank of America boosted their price target on Alkermes from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Friday. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Mizuho increased their target price on shares of Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Finally, Jefferies Financial Group set a $56.00 target price on Alkermes and gave the company a “buy” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and an average price target of $43.93.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.