BNP Paribas Financial Markets Boosts Stock Position in Alkermes plc (NASDAQ:ALKS)

BNP Paribas Financial Markets boosted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 45.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,980 shares of the company’s stock after buying an additional 68,487 shares during the quarter. BNP Paribas Financial Markets owned 0.13% of Alkermes worth $6,269,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ALKS. Venturi Wealth Management LLC acquired a new stake in Alkermes in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in 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 purchasing an additional 842 shares in the last quarter. Blue Trust Inc. raised its holdings in Alkermes by 2,231.5% during the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after purchasing an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 purchasing an additional 2,502 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in Alkermes during the fourth quarter worth approximately $203,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the transaction, the executive vice president now owns 57,875 shares of the company’s stock, valued at $2,056,298.75. The trade was a 71.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. UBS Group restated a “sector perform” rating on shares of Alkermes in a research report on Monday, April 28th. The Goldman Sachs Group raised their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Robert W. Baird raised their target price on shares of Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.33.

Alkermes Stock Up 3.8%

NASDAQ:ALKS opened at $31.27 on Tuesday. The company has a market capitalization of $5.16 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The stock has a fifty day simple moving average of $30.85 and a 200-day simple moving average of $30.60.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.19). The firm had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. As a group, equities analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.

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.