Rhenman & Partners Asset Management AB reduced its stake in Alkermes Plc (NASDAQ:ALKS) by 42.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,399 shares of the company’s stock after selling 127,211 shares during the quarter. Rhenman & Partners Asset Management AB owned 0.11% of Alkermes worth $5,147,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Chicago Equity Partners LLC purchased a new stake in shares of Alkermes in the fourth quarter worth about $587,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Alkermes by 2.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 217,211 shares of the company’s stock worth $6,410,000 after acquiring an additional 5,420 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of Alkermes by 16.0% in the fourth quarter. Xact Kapitalforvaltning AB now owns 27,606 shares of the company’s stock worth $815,000 after acquiring an additional 3,800 shares in the last quarter. First Manhattan Co. lifted its stake in shares of Alkermes by 50.9% in the fourth quarter. First Manhattan Co. now owns 838,894 shares of the company’s stock worth $24,755,000 after acquiring an additional 282,900 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new position in shares of Alkermes in the fourth quarter worth about $140,000.

Several research firms recently commented on ALKS. Zacks Investment Research upgraded Alkermes from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, January 29th. BidaskClub cut Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Cantor Fitzgerald set a $33.00 price target on Alkermes and gave the stock a “hold” rating in a research note on Wednesday, January 23rd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alkermes in a research note on Thursday, January 10th. Finally, ValuEngine cut Alkermes from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Five analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Alkermes presently has an average rating of “Hold” and an average target price of $46.21.

In other Alkermes news, Director Paul J. Mitchell sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $36.45, for a total transaction of $36,450.00. Following the sale, the director now owns 8,000 shares in the company, valued at $291,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David W. Anstice sold 8,787 shares of the company’s stock in a transaction that occurred on Wednesday, December 12th. The shares were sold at an average price of $35.59, for a total value of $312,729.33. Following the sale, the director now owns 70,000 shares in the company, valued at approximately $2,491,300. The disclosure for this sale can be found here. Insiders have sold 11,787 shares of company stock worth $411,909 in the last 90 days. 5.51% of the stock is currently owned by insiders.

Shares of NASDAQ ALKS opened at $30.85 on Monday. Alkermes Plc has a 52-week low of $27.54 and a 52-week high of $71.22. The company has a market cap of $4.79 billion, a price-to-earnings ratio of -83.38 and a beta of 1.79. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 2.85.

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Alkermes Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability; and BYDUREON (exenatide extended-release for injectable suspension) and BYDUREON BCise for the treatment of type 2 diabetes.

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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