Alkermes plc (NASDAQ:ALKS) Stake Boosted by HealthInvest Partners AB

HealthInvest Partners AB grew its position in Alkermes plc (NASDAQ:ALKS) by 12.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 266,499 shares of the company’s stock after purchasing an additional 29,889 shares during the quarter. Alkermes makes up about 3.6% of HealthInvest Partners AB’s investment portfolio, making the stock its 10th largest holding. HealthInvest Partners AB owned approximately 0.16% of Alkermes worth $7,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in Alkermes in the 4th quarter worth $25,000. Blue Trust Inc. boosted its stake in shares of Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after acquiring an additional 1,629 shares during the period. Archer Investment Corp boosted its stake in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares during the period. KBC Group NV raised its stake in Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after purchasing an additional 774 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Alkermes by 17.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company’s stock valued at $164,000 after purchasing an additional 904 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho increased their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a research note on Thursday, February 13th. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group boosted their target price on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.36.

Insiders Place Their Bets

In related news, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the sale, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 323,608 shares of company stock valued at $10,854,725 over the last 90 days. Insiders own 4.89% of the company’s stock.

Alkermes Stock Down 0.5 %

Shares of ALKS opened at $35.33 on Monday. The business has a fifty day moving average of $30.89 and a 200 day moving average of $29.08. The company has a market cap of $5.74 billion, a PE ratio of 16.28, a P/E/G ratio of 2.21 and a beta of 0.49. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. As a group, research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

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.