AMG National Trust Bank Grows Stock Holdings in Alkermes plc (NASDAQ:ALKS)

AMG National Trust Bank lifted its position in shares of Alkermes plc (NASDAQ:ALKS) by 68.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,645 shares of the company’s stock after purchasing an additional 24,200 shares during the period. AMG National Trust Bank’s holdings in Alkermes were worth $1,669,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ALKS. Sei Investments Co. lifted its holdings in Alkermes by 10.1% in the 1st quarter. Sei Investments Co. now owns 77,942 shares of the company’s stock worth $2,110,000 after buying an additional 7,178 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Alkermes by 9.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company’s stock worth $1,459,000 after acquiring an additional 4,410 shares during the period. Acadian Asset Management LLC boosted its holdings in Alkermes by 70.6% in the first quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock valued at $697,000 after acquiring an additional 10,671 shares in the last quarter. Edgestream Partners L.P. increased its position in Alkermes by 206.1% during the 1st quarter. Edgestream Partners L.P. now owns 79,609 shares of the company’s stock valued at $2,155,000 after purchasing an additional 53,600 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in Alkermes by 21.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,976 shares of the company’s stock worth $324,000 after purchasing an additional 2,097 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $27.55 on Tuesday. The firm has a market cap of $4.46 billion, a P/E ratio of 14.46, a PEG ratio of 0.94 and a beta of 0.47. Alkermes plc has a twelve month low of $22.22 and a twelve month high of $32.88. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $27.79 and a 200 day moving average of $26.25.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the transaction, the executive vice president now owns 83,300 shares of the company’s stock, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Robert W. Baird raised their target price on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 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. Stifel Nicolaus raised 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. Finally, Mizuho upped their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.