Charles Schwab Investment Management Inc. Sells 38,088 Shares of Alkermes plc (NASDAQ:ALKS)

Charles Schwab Investment Management Inc. cut its holdings in Alkermes plc (NASDAQ:ALKS) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,068,961 shares of the company’s stock after selling 38,088 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.28% of Alkermes worth $59,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in Alkermes by 558.5% in the 4th 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 in the last quarter. Fisher Asset Management LLC increased its position in Alkermes by 27.1% in the 4th quarter. Fisher Asset Management LLC now owns 331,359 shares of the company’s stock valued at $9,530,000 after buying an additional 70,574 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Alkermes in the 4th quarter valued at about $940,000. HealthInvest Partners AB increased its position in Alkermes by 12.6% in the 4th quarter. HealthInvest Partners AB now owns 266,499 shares of the company’s stock valued at $7,670,000 after buying an additional 29,889 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Alkermes in the 4th quarter valued at about $413,000. 95.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Mizuho boosted their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. UBS Group raised Alkermes from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $21.00 to $38.00 in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Alkermes in a report on Tuesday, February 11th. They set a “buy” rating and a $40.00 price objective for the company. Finally, 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 report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction on 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 sale, the executive vice president now owns 57,875 shares in the company, valued at $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.89% of the stock is owned by company insiders.

Alkermes Trading Down 2.5 %

Alkermes stock opened at $33.41 on Thursday. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45. The business’s 50 day simple moving average is $32.18 and its 200 day simple moving average is $29.77. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.20 and a beta of 0.61.

Alkermes (NASDAQ:ALKS) last posted 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 return on equity of 30.80% and a net margin of 23.57%. As a group, equities research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

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.