ADAR1 Capital Management LLC Has $293,000 Holdings in Alkermes plc (NASDAQ:ALKS)

ADAR1 Capital Management LLC lowered its stake in shares of Alkermes plc (NASDAQ:ALKS) by 86.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,188 shares of the company’s stock after selling 64,243 shares during the quarter. ADAR1 Capital Management LLC’s holdings in Alkermes were worth $293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its position in Alkermes by 6.5% in the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock worth $99,242,000 after purchasing an additional 209,740 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Alkermes by 22.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 2,302,905 shares of the company’s stock valued at $66,232,000 after acquiring an additional 419,969 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in Alkermes by 2.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 1,988,796 shares of the company’s stock worth $57,198,000 after purchasing an additional 50,470 shares during the period. Norges Bank acquired a new stake in shares of Alkermes during the fourth quarter worth $56,684,000. Finally, Principal Financial Group Inc. increased its stake in Alkermes by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 899,764 shares of the company’s stock valued at $25,877,000 after buying an additional 21,821 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALKS. Deutsche Bank Aktiengesellschaft raised 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. The Goldman Sachs Group lifted their target price on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price target on shares of Alkermes in a research report on Thursday, February 13th. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada started coverage on shares of Alkermes in a report on Thursday, March 13th. They set a “sector perform” rating and a $40.00 target price on the stock. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and an average price target of $39.38.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the sale, the executive vice president now directly owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. This trade represents a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.89% of the stock is currently owned by corporate insiders.

Alkermes Trading Down 1.9 %

ALKS stock opened at $29.49 on Tuesday. The stock has a market capitalization of $4.86 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.20 and a beta of 0.39. The firm has a 50-day moving average price of $33.56 and a 200-day moving average price of $30.48. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share 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 analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal 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.