Gallacher Capital Management LLC Acquires Shares of 7,568 Alkermes plc (NASDAQ:ALKS)

Gallacher Capital Management LLC bought a new position in shares of Alkermes plc (NASDAQ:ALKS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,568 shares of the company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Venturi Wealth Management LLC bought a new position in shares of Alkermes during the fourth quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its position in shares of Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after buying an additional 842 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 period. Smartleaf Asset Management LLC grew its position in 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 buying an additional 2,502 shares in the last quarter. Finally, KBC Group NV increased its stake 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 acquiring an additional 774 shares during the period. Institutional investors own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 100,918 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 44,290 shares of the company’s stock, valued at $1,419,494.50. This trade represents a 69.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.89% of the stock is owned by company insiders.

Alkermes Trading Up 1.2 %

Shares of ALKS stock opened at $34.03 on Monday. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.20 and a beta of 0.62. The business’s 50-day moving average price is $32.38 and its 200-day moving average price is $29.86. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS) last posted its 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, sell-side analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALKS. 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 report on Friday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alkermes in a research report on Tuesday, February 11th. They issued a “buy” rating and a $40.00 target price for the company. StockNews.com upgraded shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. UBS Group upgraded shares of Alkermes from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.46.

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.