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

Proficio Capital Partners LLC acquired a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,700 shares of the company's stock, valued at approximately $940,000.

Other large investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes in the 4th quarter worth about $25,000. Blue Trust Inc. increased its holdings in Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock worth $49,000 after purchasing an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Alkermes by 558.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock worth $85,000 after purchasing an additional 2,502 shares during the last quarter. KBC Group NV lifted its holdings in shares of Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company's stock valued at $137,000 after purchasing an additional 774 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Alkermes during the fourth quarter valued at approximately $203,000. 95.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALKS. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 13th. UBS Group upgraded shares of Alkermes from a "sell" rating to a "neutral" rating and increased their target price for the company from $21.00 to $38.00 in a report on Tuesday, March 4th. Royal Bank of Canada began coverage on Alkermes in a research note on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Alkermes in a research report on Tuesday, February 11th. They set a "buy" rating and a $40.00 price target for the company. Finally, The Goldman Sachs Group lifted 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. Four research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.46.

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Insider Activity

In other news, EVP Craig C. Hopkinson sold 100,918 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the transaction, the executive vice president now directly owns 44,290 shares in the company, valued at $1,419,494.50. The trade was a 69.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.89% of the stock is owned by company insiders.

Alkermes Stock Performance

NASDAQ ALKS traded down $0.91 during trading on Tuesday, hitting $33.88. 1,407,682 shares of the company's stock traded hands, compared to its average volume of 1,695,442. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 2.20 and a beta of 0.62. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $36.45. The business has a 50 day moving average of $33.10 and a 200-day moving average of $30.12.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced 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%. On average, analysts expect 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.