Moors & Cabot Inc. Invests $223,000 in Alkermes plc (NASDAQ:ALKS)

Moors & Cabot Inc. bought a new stake in Alkermes plc (NASDAQ:ALKS) during the third quarter, HoldingsChannel.com reports. The fund bought 7,969 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors have also recently bought and sold shares of ALKS. V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the 3rd quarter worth about $29,000. Signaturefd LLC boosted its position in Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew its stake in 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 purchasing an additional 1,498 shares in the last quarter. GAMMA Investing LLC increased its position 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 purchasing an additional 703 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Alkermes during the 2nd quarter worth approximately $116,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

NASDAQ:ALKS opened at $28.78 on Monday. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $27.89 and a 200 day simple moving average of $26.38. Alkermes plc has a 1-year low of $22.22 and a 1-year high of $32.88. The stock has a market cap of $4.66 billion, a P/E ratio of 14.76, a PEG ratio of 0.92 and a beta of 0.47.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the transaction, the executive vice president now owns 83,300 shares in the company, valued at $2,505,664. This represents a 41.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ALKS. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Cantor Fitzgerald lowered their price objective 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. JPMorgan Chase & Co. cut their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group lowered their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Alkermes has an average 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.