Vanguard Group Inc. Decreases Position in Alkermes plc (NASDAQ:ALKS)

Vanguard Group Inc. trimmed its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,496,185 shares of the company's stock after selling 475,452 shares during the period. Vanguard Group Inc. owned about 11.43% of Alkermes worth $531,950,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ALKS. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes in the fourth quarter worth approximately $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 worth $47,000 after purchasing an additional 842 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Alkermes by 2,231.5% during 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. Smartleaf Asset Management LLC raised its position 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 buying an additional 2,502 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at about $203,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALKS shares. Royal Bank of Canada started coverage on shares of Alkermes in a research note on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price objective for the company. HC Wainwright restated a "neutral" rating and issued a $46.00 price target on shares of Alkermes in a research report on Thursday, February 13th. UBS Group upgraded Alkermes from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.38.

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Insider Activity

In related news, EVP Craig C. Hopkinson sold 100,918 shares of the firm's stock in a transaction dated 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 in the company, valued at $1,419,494.50. This trade represents a 69.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.89% of the company's stock.

Alkermes Stock Down 5.1 %

ALKS stock traded down $1.60 during mid-day trading on Friday, hitting $30.06. 2,206,428 shares of the company were exchanged, compared to its average volume of 1,752,199. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $36.45. The firm has a market capitalization of $4.89 billion, a P/E ratio of 13.85, a PEG ratio of 2.20 and a beta of 0.62. The business has a fifty day simple moving average of $33.60 and a 200-day simple moving average of $30.45.

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

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.