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) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,568 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC bought a new stake in shares of Alkermes during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in Alkermes by 106.2% during 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 during the period. Blue Trust Inc. boosted its stake in shares of 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 during the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 buying an additional 2,502 shares during the period. Finally, KBC Group NV raised its stake in shares of Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after buying an additional 774 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of Alkermes stock opened at $34.03 on Monday. The firm has a market cap of $5.53 billion, a PE ratio of 15.68, a P/E/G ratio of 2.20 and a beta of 0.62. The business’s 50 day simple moving average is $32.38 and its 200 day simple moving average is $29.86. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Alkermes plc will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

ALKS has been the topic of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 14th. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a research note on Thursday, February 13th. UBS Group raised Alkermes from a “sell” rating to a “neutral” rating and increased their target price for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Royal Bank of Canada started coverage on shares of Alkermes in a research report on Thursday. They issued a “sector perform” rating and a $40.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.46.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the sale, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.89% of the company’s stock.

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.