Alkermes plc (NASDAQ:ALKS) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its position in Alkermes plc (NASDAQ:ALKS) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,394 shares of the company’s stock after purchasing an additional 828 shares during the period. Sei Investments Co.’s holdings in Alkermes were worth $2,168,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC purchased a new position in shares of Alkermes during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC increased its position in Alkermes by 106.2% during the fourth 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. raised its stake in 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 purchasing an additional 1,629 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 2,502 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Alkermes during the 4th quarter valued at $203,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. HC Wainwright reissued a “neutral” rating and issued a $46.00 price objective on shares of Alkermes in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Royal Bank of Canada initiated coverage on Alkermes in a report on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price target 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 research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $39.38.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the firm’s 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 transaction, the executive vice president now directly owns 57,875 shares in the company, valued at $2,056,298.75. This trade represents a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.89% of the company’s stock.

Alkermes Trading Down 5.1 %

Alkermes stock opened at $30.06 on Friday. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The stock has a market cap of $4.95 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. The stock has a 50 day moving average of $33.60 and a 200-day moving average of $30.45.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating 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%. As a group, equities analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

About Alkermes

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.