Wealth Enhancement Advisory Services LLC Has $441,000 Stake in Alkermes plc (NASDAQ:ALKS)

Wealth Enhancement Advisory Services LLC reduced its position in shares of Alkermes plc (NASDAQ:ALKS) by 17.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,361 shares of the company’s stock after selling 2,746 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Alkermes were worth $441,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after purchasing an additional 842 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Alkermes in the 1st quarter worth about $49,000. Fifth Third Bancorp boosted its holdings in shares of Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock worth $49,000 after buying an additional 521 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 2,502 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in Alkermes in the 4th quarter valued at about $98,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald raised Alkermes to a “strong-buy” rating in a research note on Tuesday, May 13th. Needham & Company LLC started coverage on Alkermes in a research report on Wednesday, May 28th. They issued a “buy” rating and a $45.00 target price on the stock. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a report on Monday, May 5th. Royal Bank Of Canada lifted their price objective on Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Three equities 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 MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Alkermes Stock Performance

Shares of ALKS stock opened at $28.75 on Monday. The stock’s 50-day simple moving average is $30.12 and its 200-day simple moving average is $30.90. The firm has a market capitalization of $4.74 billion, a PE ratio of 13.76, a P/E/G ratio of 1.79 and a beta of 0.44. 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 Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The company had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. During the same period last year, the business earned $0.43 earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. Sell-side analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the sale, the senior vice president owned 86,208 shares of the company’s stock, valued at $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% 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.