8,136 Shares in Alkermes plc (NASDAQ:ALKS) Acquired by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in Alkermes plc (NASDAQ:ALKS) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 8,136 shares of the company’s stock, valued at approximately $266,000.

Several other institutional investors also recently bought and sold shares of the business. Avoro Capital Advisors LLC purchased a new stake in shares of Alkermes in the fourth quarter valued at $70,462,000. Norges Bank purchased a new stake in Alkermes in the 4th quarter valued at about $56,684,000. RTW Investments LP increased its stake in shares of Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock valued at $217,363,000 after acquiring an additional 903,802 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Alkermes by 109.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company’s stock worth $47,736,000 after acquiring an additional 867,492 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Alkermes by 147.4% in the fourth quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company’s stock worth $25,581,000 after acquiring an additional 529,962 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alkermes

In related news, SVP Christian Todd Nichols sold 3,333 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $31.95, for a total transaction of $106,489.35. Following the completion of the transaction, the senior vice president now owns 89,542 shares of the company’s stock, valued at $2,860,866.90. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.

Alkermes Trading Down 1.3%

ALKS opened at $30.78 on Friday. The business’s 50 day moving average is $29.63 and its 200-day moving average is $31.02. The stock has a market cap of $5.08 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). The business 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 revenue was down 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. As a group, analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ALKS. Royal Bank of Canada upped their price target on shares of Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Needham & Company LLC initiated coverage on shares of Alkermes in a research note on Wednesday, May 28th. They set a “buy” rating and a $45.00 price objective for the company. 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. Cantor Fitzgerald upgraded Alkermes to a “strong-buy” rating in a report on Tuesday, May 13th. Finally, Robert W. Baird boosted their price target on Alkermes from $38.00 to $41.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $38.85.

Alkermes Company 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.