Sequoia Financial Advisors LLC Makes New $215,000 Investment in Alkermes plc (NASDAQ:ALKS)

Sequoia Financial Advisors LLC purchased a new stake in Alkermes plc (NASDAQ:ALKS - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,474 shares of the company's stock, valued at approximately $215,000.

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

Alkermes Stock Performance

NASDAQ:ALKS traded up $0.19 on Monday, hitting $34.79. The stock had a trading volume of 1,303,620 shares, compared to its average volume of 1,695,591. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45. The firm's fifty day simple moving average is $32.97 and its two-hundred day simple moving average is $30.07. The stock has a market cap of $5.66 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.

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Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping 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%. Equities research analysts predict that Alkermes plc will post 1.31 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALKS shares. StockNews.com upgraded Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised their target price on shares of 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 shares of Alkermes from a "sell" rating to a "neutral" rating and upped their price target for the stock from $21.00 to $38.00 in a 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 price objective on the stock. Finally, HC Wainwright restated a "neutral" rating and set a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.46.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction on Thursday, January 30th. The stock was 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 of the company's stock, valued at approximately $1,419,494.50. This represents a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.89% of the stock is owned by insiders.

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.