32,700 Shares in Alkermes plc (NASDAQ:ALKS) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,700 shares of the company's stock, valued at approximately $940,000.

Several other hedge funds have also added to or reduced their stakes in ALKS. Venturi Wealth Management LLC purchased a new stake in Alkermes during the 4th quarter worth about $25,000. Blue Trust Inc. lifted its holdings in shares of Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock worth $49,000 after buying an additional 1,629 shares in the last quarter. Archer Investment Corp boosted its position in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company's stock valued at $126,000 after acquiring an additional 1,000 shares during the period. KBC Group NV grew its stake in Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company's stock valued at $137,000 after acquiring an additional 774 shares in the last quarter. Finally, Aigen Investment Management LP bought a new stake in Alkermes during the 3rd quarter worth approximately $216,000. Institutional investors 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 business's 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 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. The trade was a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.89% of the company's stock.

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Alkermes Stock Performance

Shares of Alkermes stock traded down $0.89 during midday trading on Wednesday, hitting $33.37. The company had a trading volume of 828,632 shares, compared to its average volume of 1,737,658. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The stock has a market capitalization of $5.43 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.20 and a beta of 0.61. The company has a 50 day moving average of $32.09 and a 200 day moving average of $29.74.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted 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 net margin of 23.57% and a return on equity of 30.80%. Equities research analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target 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. Mizuho increased their price target on shares of Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. HC Wainwright reissued a "neutral" rating and set a $46.00 price target on shares of Alkermes in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alkermes in a research note on Tuesday, February 11th. They issued a "buy" rating and a $40.00 price objective for the company. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.33.

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.