KLP Kapitalforvaltning AS Purchases New Position in Alkermes plc (NASDAQ:ALKS)

KLP Kapitalforvaltning AS purchased a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 71,100 shares of the company's stock, valued at approximately $2,045,000.

Several other hedge funds have also recently made changes to their positions in the business. Frazier Life Sciences Management L.P. acquired a new position in shares of Alkermes during the 3rd quarter valued at $16,126,000. Raymond James Financial Inc. acquired a new position in shares of Alkermes during the fourth quarter valued at about $12,293,000. C WorldWide Group Holding A S bought a new position in shares of Alkermes during the 4th quarter worth about $7,190,000. Barclays PLC grew its stake in shares of Alkermes by 108.8% in the 3rd quarter. Barclays PLC now owns 423,931 shares of the company's stock valued at $11,867,000 after buying an additional 220,893 shares during the period. Finally, American Century Companies Inc. increased its position in Alkermes by 6.5% in the 4th quarter. American Century Companies Inc. now owns 3,450,707 shares of the company's stock valued at $99,242,000 after buying an additional 209,740 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alkermes 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 sale, 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 filing with the SEC, which is available through this link. Insiders own 4.89% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com upgraded Alkermes from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 13th. UBS Group raised shares of Alkermes from a "sell" rating to a "neutral" rating and lifted their price target for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 price objective on shares of Alkermes in a research note on Thursday, February 13th. Finally, Royal Bank of Canada started coverage on shares of Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 target price for the company. Four equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.38.

Alkermes Trading Down 1.5 %

Shares of ALKS stock traded down $0.49 during trading on Tuesday, hitting $32.53. The company's stock had a trading volume of 1,465,236 shares, compared to its average volume of 1,752,843. The business has a fifty day moving average of $33.57 and a 200-day moving average of $30.39. The company has a market cap of $5.29 billion, a PE ratio of 14.99, a P/E/G ratio of 2.20 and a beta of 0.62. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45.

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

Alkermes Company 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.