EFG Asset Management North America Corp. Grows Stock Holdings in Alkermes plc (NASDAQ:ALKS)

EFG Asset Management North America Corp. grew its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 58.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,662 shares of the company's stock after purchasing an additional 47,901 shares during the period. EFG Asset Management North America Corp. owned approximately 0.08% of Alkermes worth $3,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ALKS. Loomis Sayles & Co. L P boosted its holdings in shares of Alkermes by 365.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company's stock valued at $52,704,000 after buying an additional 1,478,422 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new stake in Alkermes during the third quarter worth about $16,126,000. Raymond James Financial Inc. purchased a new stake in Alkermes in the fourth quarter worth about $12,293,000. C WorldWide Group Holding A S bought a new position in shares of Alkermes during the fourth quarter valued at approximately $7,190,000. Finally, Barclays PLC lifted its holdings in shares of Alkermes by 108.8% during the third quarter. Barclays PLC now owns 423,931 shares of the company's stock valued at $11,867,000 after purchasing an additional 220,893 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of analyst reports. Royal Bank of Canada began coverage on Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price objective for the company. HC Wainwright restated a "neutral" rating and set a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.38.

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Alkermes Price Performance

Shares of ALKS traded down $0.32 during trading hours on Friday, hitting $33.21. The stock had a trading volume of 922,403 shares, compared to its average volume of 1,751,921. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45. The stock has a fifty day moving average price of $33.45 and a 200 day moving average price of $30.29. The firm has a market capitalization of $5.40 billion, a PE ratio of 15.30, a PEG ratio of 2.20 and a beta of 0.62.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 57,875 shares of the company's stock, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.89% of the company's stock.

About Alkermes

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.