Philadelphia Trust Co. Takes $2.88 Million Position in Alkermes plc (NASDAQ:ALKS)

Philadelphia Trust Co. purchased a new position in Alkermes plc (NASDAQ:ALKS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $2,876,000. Philadelphia Trust Co. owned about 0.06% of Alkermes as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Verition Fund Management LLC grew its position in shares of Alkermes by 68.2% during the 3rd quarter. Verition Fund Management LLC now owns 14,455 shares of the company's stock valued at $405,000 after acquiring an additional 5,863 shares during the period. XTX Topco Ltd purchased a new stake in Alkermes in the third quarter worth $437,000. Orion Portfolio Solutions LLC bought a new stake in shares of Alkermes in the third quarter valued at $264,000. Barclays PLC lifted its position in shares of Alkermes by 108.8% during 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 last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Alkermes by 254.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company's stock worth $944,000 after acquiring an additional 23,541 shares during the period. Institutional investors own 95.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ALKS shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. The Goldman Sachs Group raised their price target on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 14th. UBS Group upgraded Alkermes from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. Finally, Royal Bank of Canada assumed coverage on shares of Alkermes in a research report on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 price objective for the company. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and a consensus target price of $38.50.

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Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total value of $5,131,207.07. Following the sale, the executive vice president now directly owns 57,875 shares in the company, valued at approximately $2,056,298.75. This trade represents a 71.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.89% of the company's stock.

Alkermes Stock Up 1.5 %

Shares of ALKS traded up $0.40 during trading hours on Tuesday, hitting $27.94. The company had a trading volume of 2,073,201 shares, compared to its average volume of 1,754,072. The firm has a market cap of $4.61 billion, a P/E ratio of 12.88, a P/E/G ratio of 2.20 and a beta of 0.39. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The stock's 50 day moving average price is $33.06 and its 200 day moving average price is $30.47.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share 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%. On average, research analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal 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.