Norges Bank bought a new stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,970,941 shares of the company's stock, valued at approximately $56,684,000. Norges Bank owned 1.22% of Alkermes at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Loomis Sayles & Co. L P boosted its position in shares of Alkermes by 22.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,302,905 shares of the company's stock valued at $66,232,000 after purchasing an additional 419,969 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alkermes by 147.4% during the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock valued at $25,581,000 after buying an additional 529,962 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Alkermes by 2.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,988,796 shares of the company's stock worth $57,198,000 after buying an additional 50,470 shares during the period. EFG Asset Management North America Corp. grew its position in shares of Alkermes by 58.6% in the 4th quarter. EFG Asset Management North America Corp. now owns 129,662 shares of the company's stock worth $3,728,000 after buying an additional 47,901 shares during the period. Finally, Fox Run Management L.L.C. increased its stake in shares of Alkermes by 426.9% in the 4th quarter. Fox Run Management L.L.C. now owns 66,862 shares of the company's stock worth $1,923,000 after acquiring an additional 54,172 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.
Alkermes Stock Down 4.4 %
ALKS traded down $1.30 on Tuesday, reaching $28.19. The company had a trading volume of 2,040,987 shares, compared to its average volume of 1,756,906. The stock has a 50-day moving average price of $33.43 and a 200-day moving average price of $30.46. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45. The stock has a market capitalization of $4.65 billion, a PE ratio of 12.99, a P/E/G ratio of 2.20 and a beta of 0.39.
Alkermes (NASDAQ:ALKS - Get Free Report) last released its 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 expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
ALKS has been the topic of a number of analyst reports. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their target price on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group upgraded shares of Alkermes from a "sell" rating to a "neutral" rating and upped their target price for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada began coverage on shares of Alkermes in a research note on Thursday, March 13th. They set a "sector perform" rating and a $40.00 target price for the company. Four investment 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's stock. According to data from MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and a consensus price target of $39.38.
Read Our Latest Stock Report on Alkermes
Insider Activity
In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the transaction, the executive vice president now owns 57,875 shares of the company's stock, valued at $2,056,298.75. This trade represents 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 this hyperlink. Company insiders own 4.89% of the company's stock.
Alkermes Profile
(
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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