Alkermes plc (NASDAQ:ALKS) Shares Sold by Trexquant Investment LP

Trexquant Investment LP decreased its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 70.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,467 shares of the company's stock after selling 252,074 shares during the period. Trexquant Investment LP owned approximately 0.06% of Alkermes worth $3,004,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Venturi Wealth Management LLC purchased a new position in Alkermes in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after purchasing an additional 842 shares during the period. Blue Trust Inc. increased its holdings in shares of Alkermes by 2,231.5% in the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock valued at $49,000 after purchasing an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC lifted 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 purchased a new stake in Alkermes during the fourth quarter worth about $203,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALKS. Royal Bank of Canada initiated coverage on shares of Alkermes in a research report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price target for the company. The Goldman Sachs Group lifted their price objective on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 14th. HC Wainwright reiterated a "neutral" rating and set a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised their price target on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

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Alkermes Stock Up 1.5 %

Shares of ALKS traded up $0.41 on Friday, hitting $27.00. 1,741,333 shares of the stock traded hands, compared to its average volume of 1,757,142. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45. The stock's 50 day moving average is $33.14 and its two-hundred day moving average is $30.45. The firm has a market capitalization of $4.45 billion, a P/E ratio of 12.44, a P/E/G ratio of 2.20 and a beta of 0.39.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Research analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.05, for a total value of $3,234,421.90. Following the transaction, the executive vice president now directly owns 44,290 shares of the company's stock, 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 SEC, which is available at this link. Corporate insiders own 4.89% of the company's stock.

Alkermes 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.