Alkermes plc (NASDAQ:ALKS) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Alkermes plc (NASDAQ:ALKS) by 32.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,401 shares of the company’s stock after selling 43,881 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Alkermes worth $2,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC purchased a new stake in shares of Alkermes in the fourth quarter valued at about $25,000. Blue Trust Inc. boosted its holdings in 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 during the last quarter. Smartleaf Asset Management LLC grew its stake 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 buying an additional 2,502 shares during the period. KBC Group NV increased its holdings in shares of 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 buying an additional 774 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Alkermes during the 4th quarter valued at approximately $203,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the transaction, the executive vice president now owns 57,875 shares in the company, valued at $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price objective on shares of Alkermes in a research report on Thursday, February 13th. The Goldman Sachs Group increased their price target on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Royal Bank of Canada initiated coverage on Alkermes in a research report on Thursday. They set a “sector perform” rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Alkermes in a research report on Tuesday, February 11th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, StockNews.com upgraded shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.46.

Alkermes Stock Performance

Shares of ALKS stock opened at $34.03 on Monday. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The company has a 50 day moving average price of $32.38 and a 200 day moving average price of $29.86. The stock has a market capitalization of $5.53 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping 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%. On average, research analysts forecast that Alkermes plc will post 1.31 EPS 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.