Frontier Wealth Management LLC reduced its position in shares of Alkermes PLC (NASDAQ:ALKS) by 3.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 73,535 shares of the company’s stock after selling 2,300 shares during the period. Frontier Wealth Management LLC’s holdings in Alkermes PLC were worth $4,087,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in the stock. FMR LLC boosted its stake in shares of Alkermes PLC by 0.3% in the fourth quarter. FMR LLC now owns 22,795,572 shares of the company’s stock worth $1,266,978,000 after buying an additional 62,067 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Alkermes PLC by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,942,795 shares of the company’s stock worth $185,430,000 after buying an additional 73,451 shares during the period. State Street Corp boosted its stake in shares of Alkermes PLC by 2.0% in the fourth quarter. State Street Corp now owns 3,745,283 shares of the company’s stock worth $208,160,000 after buying an additional 74,500 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Alkermes PLC by 3.2% in the third quarter. BlackRock Fund Advisors now owns 3,528,364 shares of the company’s stock worth $165,939,000 after buying an additional 109,318 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Alkermes PLC by 18.8% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,665,836 shares of the company’s stock worth $78,345,000 after buying an additional 264,019 shares during the period. 95.52% of the stock is owned by hedge funds and other institutional investors.
Alkermes PLC (NASDAQ:ALKS) traded down 0.56% during trading on Monday, reaching $54.80. The company had a trading volume of 891,832 shares. The company has a 50-day moving average of $55.75 and a 200-day moving average of $51.90. The firm’s market capitalization is $8.33 billion. Alkermes PLC has a 52-week low of $27.14 and a 52-week high of $60.74.
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ALKS has been the subject of a number of research analyst reports. Zacks Investment Research raised Alkermes PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, December 13th. Cantor Fitzgerald began coverage on Alkermes PLC in a research report on Thursday, December 15th. They set a “neutral” rating and a $52.00 price objective for the company. Jefferies Group LLC increased their price objective on Alkermes PLC from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 21st. Morgan Stanley raised Alkermes PLC from an “underweight” rating to a “hold” rating and set a $62.00 price objective for the company in a research report on Friday, October 21st. Finally, J P Morgan Chase & Co raised Alkermes PLC from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $51.00 to $78.00 in a research report on Friday, October 21st. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $60.83.
In other news, Director Richard F. Pops sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $58.66, for a total value of $1,759,800.00. Following the transaction, the director now directly owns 638,962 shares of the company’s stock, valued at $37,481,510.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul J. Mitchell sold 1,500 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $54.45, for a total transaction of $81,675.00. Following the completion of the transaction, the director now directly owns 9,500 shares in the company, valued at $517,275. The disclosure for this sale can be found here. Insiders sold 242,800 shares of company stock worth $13,827,583 over the last ninety days. 4.75% of the stock is currently owned by company insiders.
Alkermes PLC Company Profile
Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.
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