Federated Hermes Inc. decreased its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 354,249 shares of the company's stock after selling 130,524 shares during the period. Federated Hermes Inc. owned about 0.22% of Alkermes worth $10,188,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after purchasing an additional 842 shares during the period. Blue Trust Inc. boosted its stake in shares of Alkermes by 2,231.5% in the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock valued at $49,000 after purchasing an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Alkermes by 558.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock valued at $85,000 after buying an additional 2,502 shares during the period. Finally, Cornerstone Investment Partners LLC acquired a new stake in Alkermes during the 4th quarter worth about $203,000. Institutional investors own 95.21% of the company's stock.
Insider Buying and Selling
In other news, EVP Craig C. Hopkinson sold 100,918 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total value of $3,234,421.90. Following the completion of the transaction, the executive vice president now directly owns 44,290 shares of the company's stock, valued at $1,419,494.50. This trade represents a 69.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.89% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on ALKS shares. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. Royal Bank of Canada began coverage on shares of Alkermes in a report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price objective on the stock. 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 research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, StockNews.com raised shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.50.
Check Out Our Latest Stock Report on Alkermes
Alkermes Stock Up 0.6 %
ALKS traded up $0.16 during trading on Tuesday, hitting $27.70. 721,840 shares of the company traded hands, compared to its average volume of 1,753,121. The firm has a market cap of $4.57 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The stock's fifty day moving average is $33.06 and its 200 day moving average is $30.47.
Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 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%. On average, equities research analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.
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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