Primecap Management Co. CA Sells 201,605 Shares of Alkermes plc (NASDAQ:ALKS)

Primecap Management Co. CA decreased its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,095,510 shares of the company's stock after selling 201,605 shares during the quarter. Primecap Management Co. CA owned approximately 1.91% of Alkermes worth $89,027,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ALKS. CIBC Asset Management Inc raised its position in Alkermes by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company's stock valued at $263,000 after purchasing an additional 384 shares during the last quarter. KBC Group NV raised its position in Alkermes by 18.8% in the 3rd quarter. KBC Group NV now owns 4,890 shares of the company's stock valued at $137,000 after purchasing an additional 774 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock valued at $47,000 after purchasing an additional 842 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Alkermes in the 4th quarter valued at $25,000. Finally, Exchange Traded Concepts LLC raised its position in Alkermes by 3.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company's stock valued at $890,000 after purchasing an additional 897 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the transaction, the executive vice president now directly owns 57,875 shares of the company's stock, valued at $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.89% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALKS shares. The Goldman Sachs Group lifted their price objective on Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, February 14th. UBS Group upgraded Alkermes from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. Royal Bank of Canada started coverage on Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 target price for the company. HC Wainwright restated a "neutral" rating and set a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Finally, StockNews.com upgraded Alkermes from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and an average price target of $38.46.

Alkermes Stock Performance

NASDAQ:ALKS traded up $0.68 on Friday, reaching $34.60. The company's stock had a trading volume of 4,662,931 shares, compared to its average volume of 1,697,969. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45. The firm has a market cap of $5.63 billion, a PE ratio of 15.94, a PEG ratio of 2.20 and a beta of 0.62. The business's 50-day moving average price is $32.97 and its two-hundred day moving average price is $30.04.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted 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, sell-side analysts expect that Alkermes plc will post 1.31 EPS for the current year.

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.