Alkermes plc (NASDAQ:ALKS) Shares Bought by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its position in Alkermes plc (NASDAQ:ALKS) by 106.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,635 shares of the company’s stock after acquiring an additional 842 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Alkermes were worth $47,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALKS. Venturi Wealth Management LLC acquired a new position in Alkermes in the fourth quarter valued at approximately $25,000. Blue Trust Inc. lifted its stake in Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after buying an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Alkermes by 558.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after purchasing an additional 2,502 shares during the last quarter. KBC Group NV raised its stake in shares of Alkermes by 18.8% during the third 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. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Alkermes during the fourth quarter worth approximately $203,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a report on Thursday, February 13th. StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Royal Bank of Canada initiated coverage on Alkermes in a research note on Thursday, March 13th. They set a “sector perform” rating and a $40.00 price objective on the stock. The Goldman Sachs Group increased their target price on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Alkermes in a research report on Tuesday, February 11th. They set a “buy” rating and a $40.00 target price on the stock. Four research 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 Price Performance

Alkermes stock opened at $34.34 on Thursday. The stock’s 50-day moving average is $32.73 and its 200-day moving average is $29.97. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Insider Activity at Alkermes

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 sale, the executive vice president now directly owns 44,290 shares in the company, valued at approximately $1,419,494.50. This trade represents a 69.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 4.89% of the company’s stock.

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.