Proficio Capital Partners LLC Buys New Stake in Alkermes plc (NASDAQ:ALKS)

Proficio Capital Partners LLC bought a new stake in Alkermes plc (NASDAQ:ALKS) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 32,700 shares of the company’s stock, valued at approximately $940,000.

A number of other hedge funds have also recently modified their holdings of the stock. CIBC Asset Management Inc grew its position in shares of Alkermes by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock valued at $263,000 after buying an additional 384 shares during the last quarter. Nicollet Investment Management Inc. grew its position in Alkermes by 1.7% during the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock worth $1,227,000 after purchasing an additional 714 shares during the last quarter. KBC Group NV grew its position in Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after purchasing an additional 774 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Alkermes during the 4th quarter worth $25,000. Finally, Exchange Traded Concepts LLC grew its position in Alkermes by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock worth $890,000 after purchasing an additional 897 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Stock Down 0.9 %

Shares of NASDAQ ALKS opened at $34.35 on Friday. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The firm has a 50-day moving average price of $31.85 and a 200 day moving average price of $29.64. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. Equities research analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insider Activity at Alkermes

In related news, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig C. Hopkinson sold 61,151 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the transaction, the executive vice president now owns 47,576 shares of the company’s stock, valued at $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,179 shares of company stock worth $10,412,450 over the last 90 days. Company insiders own 4.89% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALKS shares. HC Wainwright reissued a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a research report on Thursday, February 13th. Mizuho raised their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes in a research report on Tuesday, February 11th. They set a “buy” rating and a $40.00 price objective on the stock. UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $38.33.

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.