Cibc World Markets Corp Buys New Shares in Alkermes plc (NASDAQ:ALKS)

Cibc World Markets Corp acquired a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 15,070 shares of the company's stock, valued at approximately $433,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Natixis Advisors LLC increased its position in Alkermes by 190.3% during the third quarter. Natixis Advisors LLC now owns 36,490 shares of the company's stock worth $1,021,000 after buying an additional 23,921 shares during the period. Pathstone Holdings LLC increased its holdings in shares of Alkermes by 72.8% in the 3rd quarter. Pathstone Holdings LLC now owns 71,324 shares of the company's stock valued at $1,996,000 after acquiring an additional 30,048 shares during the period. Advisors Asset Management Inc. raised its position in Alkermes by 21.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,158 shares of the company's stock valued at $284,000 after purchasing an additional 1,771 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Alkermes in the 3rd quarter valued at $223,000. Finally, Intech Investment Management LLC acquired a new stake in Alkermes during the 3rd quarter worth $1,463,000. Institutional investors and hedge funds own 95.21% of the company's stock.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the transaction, the executive vice president now owns 57,875 shares of the company's stock, valued at $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.89% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

ALKS has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their target price on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group raised Alkermes from a "sell" rating to a "neutral" rating and boosted their target price for the company from $21.00 to $38.00 in a report on Tuesday, March 4th. Finally, Royal Bank of Canada started coverage on Alkermes in a report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $39.38.

Alkermes Stock Down 0.5 %

Shares of Alkermes stock traded down $0.16 during trading on Thursday, hitting $33.53. 1,096,782 shares of the company were exchanged, compared to its average volume of 1,694,747. The firm has a 50 day moving average price of $33.30 and a 200 day moving average price of $30.20. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 2.20 and a beta of 0.62. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data 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%. Analysts predict that Alkermes plc will post 1.31 earnings per share for the current 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.