Victory Capital Management Inc. lessened its position in shares of Alkermes plc (NASDAQ:ALKS – Get Rating) by 93.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,989 shares of the company's stock after selling 1,103,585 shares during the quarter. Victory Capital Management Inc.'s holdings in Alkermes were worth $1,608,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in Alkermes by 9.3% during the second quarter. Renaissance Technologies LLC now owns 5,322,613 shares of the company's stock valued at $158,561,000 after purchasing an additional 454,600 shares during the period. Comerica Bank bought a new stake in Alkermes during the second quarter valued at about $911,000. BNP Paribas Arbitrage SA grew its holdings in Alkermes by 166.1% during the second quarter. BNP Paribas Arbitrage SA now owns 155,021 shares of the company's stock valued at $4,618,000 after purchasing an additional 96,769 shares during the period. Aigen Investment Management LP bought a new stake in Alkermes during the second quarter valued at about $1,002,000. Finally, Martingale Asset Management L P grew its holdings in Alkermes by 19.3% during the second quarter. Martingale Asset Management L P now owns 75,045 shares of the company's stock valued at $2,236,000 after purchasing an additional 12,117 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.

Alkermes Trading Down 3.7 %

Shares of NASDAQ ALKS opened at $27.62 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.89 and a current ratio of 2.24. The business's 50 day moving average price is $26.26 and its 200-day moving average price is $24.96. Alkermes plc has a fifty-two week low of $21.75 and a fifty-two week high of $32.79. The company has a market cap of $4.54 billion, a price-to-earnings ratio of -35.41 and a beta of 0.59.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALKS. Bank of America boosted their price target on Alkermes from $27.00 to $28.00 in a report on Sunday, January 8th. Mizuho upped their price objective on Alkermes from $34.00 to $36.00 and gave the stock a "buy" rating in a research note on Tuesday, November 22nd. StockNews.com lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 2nd. Piper Sandler upgraded Alkermes from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $26.00 to $30.00 in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Alkermes from $33.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 6th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $29.89.

Alkermes Company Profile

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Alkermes Plc is a global biopharmaceutical company. It is engaged in the business of developing, manufacturing, and commercializing medicines designed to address unmet medical needs of patients in major therapeutic areas. Its proprietary products include ARISTADA, ARISTADA INITIO, LYBALVI, and VIVITROL.

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