Edgestream Partners L.P. reduced its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 80.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,106 shares of the company's stock after selling 216,565 shares during the period. Edgestream Partners L.P.'s holdings in Alkermes were worth $1,556,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Loomis Sayles & Co. L P lifted its position in shares of Alkermes by 365.5% in the third quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company's stock worth $52,704,000 after buying an additional 1,478,422 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Alkermes by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 899,764 shares of the company's stock worth $25,877,000 after buying an additional 21,821 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in shares of Alkermes in the third quarter worth about $16,126,000. Rhumbline Advisers lifted its position in shares of Alkermes by 0.4% in the fourth quarter. Rhumbline Advisers now owns 464,714 shares of the company's stock worth $13,365,000 after buying an additional 1,683 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Alkermes in the fourth quarter worth about $12,293,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Alkermes Stock Up 1.2 %
NASDAQ:ALKS traded up $0.41 during midday trading on Friday, hitting $34.03. The stock had a trading volume of 1,986,205 shares, compared to its average volume of 1,740,412. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.20 and a beta of 0.61. The stock has a 50-day moving average of $32.28 and a 200 day moving average of $29.79.
Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data 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 return on equity of 30.80% and a net margin of 23.57%. On average, sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ALKS has been the topic of a number of recent research reports. Royal Bank of Canada initiated coverage on Alkermes in a research report on Thursday. They set a "sector perform" rating and a $40.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Alkermes in a research report on Tuesday, February 11th. They set a "buy" rating and a $40.00 price objective on the stock. HC Wainwright restated a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a research report 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, UBS Group upgraded Alkermes from a "sell" rating to a "neutral" rating and upped their price objective for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.46.
Get Our Latest Research Report on Alkermes
Insider Buying and Selling
In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction 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 sale, the executive vice president now owns 57,875 shares of the company's stock, valued at approximately $2,056,298.75. This trade represents a 71.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.89% of the stock is owned by insiders.
Alkermes Company 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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