Victory Capital Management Inc. Has $2.66 Million Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Victory Capital Management Inc. lowered its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 32.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,401 shares of the company's stock after selling 43,881 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Alkermes worth $2,657,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Alkermes in the 4th quarter valued at approximately $25,000. Blue Trust Inc. increased its holdings 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 worth $49,000 after buying an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock valued at $85,000 after acquiring an additional 2,502 shares in the last quarter. KBC Group NV grew its position in Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company's stock worth $137,000 after acquiring an additional 774 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in Alkermes in the 4th quarter worth about $203,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Trading Down 1.1 %

NASDAQ ALKS traded down $0.39 during trading hours on Thursday, hitting $33.96. 781,236 shares of the company's stock were exchanged, compared to its average volume of 1,687,876. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 2.20 and a beta of 0.62. The stock has a 50-day simple moving average of $32.73 and a 200 day simple moving average of $29.97. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45.

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Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 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%. On average, sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the sale, the executive vice president now directly owns 57,875 shares in the company, valued at $2,056,298.75. This trade represents a 71.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.89% of the company's stock.

Wall Street Analyst Weigh In

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

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.