Gallacher Capital Management LLC Makes New Investment in Alkermes plc (NASDAQ:ALKS)

Gallacher Capital Management LLC purchased a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 7,568 shares of the company's stock, valued at approximately $218,000.

Other hedge funds have also bought and sold shares of the company. Loomis Sayles & Co. L P boosted its holdings in Alkermes by 365.5% in the 3rd 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 during the period. Frazier Life Sciences Management L.P. purchased a new position in shares of Alkermes in the third quarter valued at about $16,126,000. Raymond James Financial Inc. bought a new position in shares of Alkermes in the fourth quarter worth about $12,293,000. C WorldWide Group Holding A S purchased a new stake in shares of Alkermes during the fourth quarter worth about $7,190,000. Finally, Barclays PLC grew its position in shares of Alkermes by 108.8% during the third quarter. Barclays PLC now owns 423,931 shares of the company's stock worth $11,867,000 after purchasing an additional 220,893 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Performance

ALKS stock traded down $0.42 during mid-day trading on Thursday, reaching $33.92. 1,267,775 shares of the stock traded hands, compared to its average volume of 1,676,643. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The stock has a market capitalization of $5.52 billion, a PE ratio of 15.63, a PEG ratio of 2.20 and a beta of 0.62. The business has a 50-day moving average price of $32.73 and a two-hundred day moving average price of $29.97.

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Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results 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 net margin of 23.57% and a return on equity of 30.80%. On average, equities analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on ALKS shares. UBS Group upgraded Alkermes from a "sell" rating to a "neutral" rating and upped their price target for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. StockNews.com upgraded shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada assumed coverage on shares of Alkermes in a report on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes in a report on Tuesday, February 11th. They set a "buy" rating and a $40.00 price objective for the company. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $38.46.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the transaction, the executive vice president now owns 44,290 shares of the company's stock, valued at approximately $1,419,494.50. This represents a 69.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.89% of the company's stock.

Alkermes 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.