Alkermes plc (NASDAQ:ALKS) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its holdings in Alkermes plc (NASDAQ:ALKS) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,854 shares of the company’s stock after selling 419 shares during the period. Martingale Asset Management L P owned about 0.06% of Alkermes worth $2,670,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. CIBC Asset Management Inc raised its position in shares of Alkermes by 4.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock worth $263,000 after acquiring an additional 384 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Alkermes by 3.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company’s stock valued at $408,000 after purchasing an additional 532 shares during the last quarter. Sei Investments Co. raised its holdings in Alkermes by 1.1% during the fourth quarter. Sei Investments Co. now owns 75,394 shares of the company’s stock worth $2,168,000 after purchasing an additional 828 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in shares of Alkermes in the 4th quarter valued at $25,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALKS has been the subject of a number of research reports. UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and boosted their price target for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. HC Wainwright reissued a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft raised their price target on Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. The Goldman Sachs Group boosted their price objective on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Royal Bank of Canada started coverage on shares of Alkermes in a research report on Thursday, March 13th. They set a “sector perform” rating and a $40.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the sale, the executive vice president now directly owns 44,290 shares in the company, valued at approximately $1,419,494.50. This trade represents a 69.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.89% of the company’s stock.

Alkermes Stock Down 7.7 %

NASDAQ ALKS opened at $26.59 on Friday. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The firm has a 50-day moving average price of $33.23 and a 200 day moving average price of $30.45. The stock has a market capitalization of $4.38 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.20 and a beta of 0.39.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. On average, equities research analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal 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.