Inceptionr LLC Makes New Investment in Alkermes plc (NASDAQ:ALKS)

Inceptionr LLC bought a new position in Alkermes plc (NASDAQ:ALKS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,022 shares of the company's stock, valued at approximately $317,000.

Several other large investors have also made changes to their positions in the company. Loomis Sayles & Co. L P boosted its position in Alkermes by 365.5% in the third 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 3rd quarter worth approximately $16,126,000. Raymond James Financial Inc. acquired a new stake in Alkermes during the 4th quarter valued at $12,293,000. C WorldWide Group Holding A S bought a new position in Alkermes in the 4th quarter valued at $7,190,000. Finally, Barclays PLC boosted its stake in Alkermes by 108.8% in 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research note on Tuesday, February 11th. They issued a "buy" rating and a $40.00 target price for the company. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. StockNews.com raised shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Mizuho raised their price target on shares of Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, UBS Group raised Alkermes from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $21.00 to $38.00 in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $38.46.

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Alkermes Stock Performance

NASDAQ:ALKS traded up $0.21 during mid-day trading on Thursday, hitting $33.62. The company had a trading volume of 1,517,073 shares, compared to its average volume of 1,739,046. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The firm has a market cap of $5.47 billion, a P/E ratio of 15.49, a P/E/G ratio of 2.20 and a beta of 0.61. The business's fifty day moving average is $32.18 and its two-hundred day moving average is $29.77.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 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%. Equities analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Activity

In related 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 transaction of $3,234,421.90. Following the sale, the executive vice president now owns 44,290 shares of the company's stock, valued at approximately $1,419,494.50. This trade represents a 69.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.89% of the stock is owned by company insiders.

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.