Alkermes plc (NASDAQ:ALKS) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,594 shares of the company’s stock after acquiring an additional 3,179 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alkermes were worth $1,369,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ALKS. Venturi Wealth Management LLC purchased a new stake in shares of Alkermes during the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 842 shares during the period. Blue Trust Inc. raised its position 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 in the last quarter. Smartleaf Asset Management LLC grew its holdings in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after acquiring an additional 2,502 shares in the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new position in Alkermes in the fourth quarter valued at $203,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, March 27th. 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 reaffirmed a “sector perform” rating on shares of Alkermes in a research note on Monday. Royal Bank of Canada reaffirmed an “underperform” rating on shares of Alkermes in a report on Monday. Finally, HC Wainwright reiterated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.08.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 57,875 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. 4.40% of the stock is owned by company insiders.

Alkermes Stock Up 3.1 %

Shares of ALKS opened at $28.77 on Wednesday. The firm has a market cap of $4.74 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. The company’s fifty day moving average is $31.62 and its two-hundred day moving average is $30.41. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45.

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

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.