Allspring Global Investments Holdings LLC cut its holdings in shares of Alkermes plc (NASDAQ:ALKS – Free Report) by 78.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,470 shares of the company’s stock after selling 34,258 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Alkermes were worth $296,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in shares of Alkermes during the second quarter valued at about $28,000. Creative Planning bought a new position in shares of Alkermes during the second quarter worth about $243,000. Bailard Inc. bought a new position in shares of Alkermes during the second quarter worth about $216,000. Diversified Trust Co lifted its position in shares of Alkermes by 11.0% during the second quarter. Diversified Trust Co now owns 31,432 shares of the company’s stock worth $984,000 after purchasing an additional 3,103 shares during the last quarter. Finally, Paradiem LLC lifted its position in shares of Alkermes by 1.6% during the second quarter. Paradiem LLC now owns 47,684 shares of the company’s stock worth $1,493,000 after purchasing an additional 749 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently commented on ALKS. Piper Sandler reduced their price target on shares of Alkermes from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, October 27th. TheStreet raised shares of Alkermes from a “c” rating to a “b” rating in a research report on Wednesday, July 26th. HC Wainwright reaffirmed a “neutral” rating and set a $34.00 price target on shares of Alkermes in a research report on Thursday, July 27th. StockNews.com started coverage on shares of Alkermes in a research report on Friday. They set a “buy” rating on the stock. Finally, Evercore ISI raised shares of Alkermes from an “in-line” rating to an “outperform” rating in a report on Tuesday, October 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.
Alkermes Stock Performance
Shares of NASDAQ ALKS opened at $23.80 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.91 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $27.44 and its two-hundred day moving average price is $29.11. Alkermes plc has a 52-week low of $22.01 and a 52-week high of $33.71. The stock has a market capitalization of $3.97 billion, a P/E ratio of 19.19 and a beta of 0.62.
Alkermes Company Profile
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.
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