Alkermes plc (NASDAQ:ALKS) Position Increased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,478,728 shares of the company's stock after buying an additional 57,697 shares during the period. Renaissance Technologies LLC owned 3.39% of Alkermes worth $157,568,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new position in shares of Alkermes during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake in Alkermes by 106.2% during 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 period. Blue Trust Inc. grew its position in Alkermes by 2,231.5% in 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 during the last quarter. Smartleaf Asset Management LLC increased 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 valued at $85,000 after purchasing an additional 2,502 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Alkermes during the fourth quarter valued at approximately $203,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Trading Up 1.5 %

Shares of Alkermes stock traded up $0.41 on Friday, reaching $27.00. 1,741,333 shares of the company were exchanged, compared to its average volume of 1,756,591. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. The stock has a fifty day moving average price of $33.14 and a 200-day moving average price of $30.47.

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Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data 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, equities analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALKS has been the subject of a number of recent analyst reports. Royal Bank of Canada began coverage on Alkermes in a report on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 price objective for the company. UBS Group upgraded shares of Alkermes from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. HC Wainwright reiterated a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, February 14th. 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, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.50.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes 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 transaction, the executive vice president now owns 57,875 shares of the company's stock, valued at $2,056,298.75. The trade was a 71.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.89% of the company's stock.

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.