ADAR1 Capital Management LLC cut its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 86.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,188 shares of the company's stock after selling 64,243 shares during the quarter. ADAR1 Capital Management LLC's holdings in Alkermes were worth $293,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Cerity Partners LLC acquired a new position in Alkermes in the 3rd quarter worth approximately $439,000. Verition Fund Management LLC boosted its position in shares of Alkermes by 68.2% in the third quarter. Verition Fund Management LLC now owns 14,455 shares of the company's stock worth $405,000 after buying an additional 5,863 shares during the period. Centiva Capital LP acquired a new position in Alkermes during the third quarter valued at $367,000. Zacks Investment Management boosted its position in Alkermes by 8.2% during the 3rd quarter. Zacks Investment Management now owns 69,531 shares of the company's stock worth $1,946,000 after acquiring an additional 5,254 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Alkermes in the 3rd quarter valued at about $437,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.
Alkermes Stock Up 1.5 %
NASDAQ ALKS traded up $0.41 during midday trading on Friday, hitting $27.00. The company had a trading volume of 1,741,333 shares, compared to its average volume of 1,756,591. The firm has a fifty day simple moving average of $33.14 and a two-hundred day simple moving average of $30.47. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 2.20 and a beta of 0.39.
Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. As a group, equities analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, February 14th. HC Wainwright restated a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. UBS Group raised Alkermes from a "sell" rating to a "neutral" rating and upped their target price for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada began coverage on shares of Alkermes in a research note on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 target price for the company. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.50.
Read Our Latest Research Report on Alkermes
Insider Buying and Selling
In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of the firm's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the transaction, the executive vice president now owns 44,290 shares in the company, valued at $1,419,494.50. This trade represents a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.89% of the stock is owned by company insiders.
Alkermes Profile
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Free Report)
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.
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