Nicollet Investment Management Inc. Invests $1.46 Million in Alkermes Plc (ALKS)
Nicollet Investment Management Inc. bought a new stake in Alkermes Plc (NASDAQ:ALKS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 26,710 shares of the company’s stock, valued at approximately $1,462,000.
Several other institutional investors and hedge funds have also made changes to their positions in ALKS. Toronto Dominion Bank raised its position in shares of Alkermes by 12.7% in the 2nd quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock valued at $109,000 after purchasing an additional 212 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Alkermes in the 4th quarter valued at approximately $114,000. Quantbot Technologies LP acquired a new position in shares of Alkermes in the 3rd quarter valued at approximately $126,000. Virtu Financial LLC acquired a new position in shares of Alkermes in the 3rd quarter valued at approximately $201,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Alkermes in the 3rd quarter valued at approximately $214,000. 99.31% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on ALKS. Credit Suisse Group set a $66.00 target price on Alkermes and gave the company a “buy” rating in a research report on Tuesday, November 28th. Zacks Investment Research raised Alkermes from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, January 8th. Barclays lowered Alkermes from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $66.00 to $50.00 in a research report on Monday, October 16th. JPMorgan Chase & Co. set a $78.00 target price on Alkermes and gave the company a “buy” rating in a research report on Friday, October 27th. Finally, UBS Group set a $54.00 target price on Alkermes and gave the company a “hold” rating in a research report on Friday, October 27th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Alkermes has an average rating of “Hold” and an average price target of $64.17.
In related news, insider Shane Cooke sold 72,793 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $60.55, for a total transaction of $4,407,616.15. Following the completion of the transaction, the insider now directly owns 147,501 shares in the company, valued at approximately $8,931,185.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Iain Michael Brown sold 10,652 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $54.81, for a total value of $583,836.12. The disclosure for this sale can be found here. Insiders sold a total of 135,485 shares of company stock valued at $8,227,502 over the last quarter. Company insiders own 5.34% of the company’s stock.
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Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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