PDT Partners LLC Purchases 79,158 Shares of Alkermes plc (NASDAQ:ALKS)

PDT Partners LLC grew its position in Alkermes plc (NASDAQ:ALKS) by 319.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,958 shares of the company’s stock after acquiring an additional 79,158 shares during the period. PDT Partners LLC’s holdings in Alkermes were worth $2,910,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Alkermes in the 3rd quarter valued at about $29,000. Signaturefd LLC raised its stake in Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the period. Hexagon Capital Partners LLC lifted its position in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after buying an additional 1,498 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes during the 2nd quarter worth approximately $116,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $29.02 on Friday. The stock has a market capitalization of $4.70 billion, a PE ratio of 14.88, a P/E/G ratio of 0.97 and a beta of 0.47. The business has a fifty day moving average price of $28.01 and a two-hundred day moving average price of $26.52. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. Cantor Fitzgerald decreased their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Finally, Mizuho boosted their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 83,300 shares of the company’s stock, valued at approximately $2,505,664. This trade represents a 41.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,675 shares of company stock worth $2,235,622 over the last ninety days. Corporate insiders own 4.89% of the company’s stock.

About Alkermes

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.