Thrivent Financial for Lutherans Sells 11,166 Shares of Alkermes plc (NASDAQ:ALKS)

Thrivent Financial for Lutherans decreased its stake in Alkermes plc (NASDAQ:ALKS) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 129,312 shares of the company’s stock after selling 11,166 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Alkermes worth $3,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALKS. O Shaughnessy Asset Management LLC grew its holdings in shares of Alkermes by 21.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,976 shares of the company’s stock valued at $324,000 after buying an additional 2,097 shares during the period. Advisors Asset Management Inc. raised its position in shares of Alkermes by 19.6% during the first quarter. Advisors Asset Management Inc. now owns 29,886 shares of the company’s stock worth $809,000 after purchasing an additional 4,891 shares during the period. Lazard Asset Management LLC raised its position in shares of Alkermes by 655.0% during the first quarter. Lazard Asset Management LLC now owns 77,102 shares of the company’s stock worth $2,087,000 after purchasing an additional 66,890 shares during the period. Bayesian Capital Management LP bought a new position in shares of Alkermes during the 1st quarter valued at about $333,000. Finally, Tidal Investments LLC acquired a new position in shares of Alkermes in the 1st quarter valued at approximately $441,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Up 2.0 %

NASDAQ:ALKS opened at $29.36 on Tuesday. Alkermes plc has a twelve month low of $22.22 and a twelve month high of $32.88. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47. 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 stock’s 50 day moving average price is $27.92 and its two-hundred day moving average price is $26.42.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 of the company’s stock, valued at $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.89% of the stock is owned by company insiders.

Analyst Ratings Changes

ALKS has been the topic of several research analyst reports. Cantor Fitzgerald dropped their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Company 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.