Horizon Kinetics Asset Management LLC Raises Position in Alkermes plc (NASDAQ:ALKS)

Horizon Kinetics Asset Management LLC boosted its holdings in Alkermes plc (NASDAQ:ALKS) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,033 shares of the company’s stock after purchasing an additional 967 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Alkermes were worth $662,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new stake in Alkermes during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after purchasing an additional 842 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Alkermes by 2,231.5% during the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after purchasing an additional 1,629 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Alkermes by 558.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after purchasing an additional 2,502 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after buying an additional 774 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALKS. The Goldman Sachs Group raised their price target on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th. HC Wainwright reissued a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Alkermes in a research report on Tuesday, February 11th. They set a “buy” rating and a $40.00 price target for the company. UBS Group upgraded Alkermes from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.46.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the sale, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.89% of the stock is owned by corporate insiders.

Alkermes Price Performance

Shares of Alkermes stock opened at $34.37 on Tuesday. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 2.20 and a beta of 0.62. The company has a 50-day moving average of $32.50 and a 200 day moving average of $29.90.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. On average, equities analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

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.