Charles Schwab Investment Management Inc. lessened its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,068,961 shares of the company's stock after selling 38,088 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.28% of Alkermes worth $59,503,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Asset Management Inc grew its position in shares of Alkermes by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,155 shares of the company's stock worth $263,000 after purchasing an additional 384 shares in the last quarter. Nicollet Investment Management Inc. boosted its stake in Alkermes by 1.7% during the third quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company's stock valued at $1,227,000 after buying an additional 714 shares during the last quarter. KBC Group NV boosted its stake in Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company's stock valued at $137,000 after buying an additional 774 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Alkermes during the fourth quarter valued at approximately $25,000. Finally, Exchange Traded Concepts LLC boosted its stake in Alkermes by 3.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company's stock valued at $890,000 after buying an additional 897 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on ALKS. The Goldman Sachs Group raised their price objective on Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Royal Bank of Canada began coverage on Alkermes in a research note on Thursday. They issued a "sector perform" rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research note on Tuesday, February 11th. They issued a "buy" rating and a $40.00 price objective for the company. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Finally, UBS Group raised Alkermes from a "sell" rating to a "neutral" rating and raised their price target for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $38.46.
Get Our Latest Analysis on ALKS
Alkermes Trading Up 1.2 %
Shares of ALKS traded up $0.41 during trading hours on Friday, hitting $34.03. The company had a trading volume of 1,986,205 shares, compared to its average volume of 1,700,146. The company has a market capitalization of $5.53 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 2.20 and a beta of 0.61. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The company's fifty day moving average price is $32.38 and its two-hundred day moving average price is $29.84.
Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings results 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 return on equity of 30.80% and a net margin of 23.57%. Analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.
Insider Buying and Selling at Alkermes
In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the transaction, the executive vice president now owns 57,875 shares in the company, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.89% of the company's stock.
About Alkermes
(
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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