Edgestream Partners L.P. Reduces Holdings in Alkermes plc (NASDAQ:ALKS)

Edgestream Partners L.P. lowered its stake in shares of Alkermes plc (NASDAQ:ALKS) by 80.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,106 shares of the company’s stock after selling 216,565 shares during the quarter. Edgestream Partners L.P.’s holdings in Alkermes were worth $1,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ALKS. Venturi Wealth Management LLC bought a new position in shares of Alkermes in the 4th quarter worth approximately $25,000. Blue Trust Inc. grew its stake in Alkermes by 2,231.5% in 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 during the period. Smartleaf Asset Management LLC raised its holdings in Alkermes by 558.5% in 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. Archer Investment Corp lifted its position in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after buying an additional 1,000 shares during the period. Finally, KBC Group NV lifted its position in Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after buying an additional 774 shares during the period. 95.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group upgraded shares of Alkermes from a “sell” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. Mizuho raised their target price on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. HC Wainwright reiterated a “neutral” rating and set a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research note on Tuesday, February 11th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.33.

Insider Activity

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the sale, the executive vice president now owns 57,875 shares of the company’s stock, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.89% of the stock is owned by corporate insiders.

Alkermes Price Performance

ALKS stock opened at $35.24 on Tuesday. The stock has a market capitalization of $5.73 billion, a P/E ratio of 16.24, a P/E/G ratio of 2.20 and a beta of 0.62. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45. The business has a fifty day moving average price of $31.98 and a 200-day moving average price of $29.70.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. As a group, analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.

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.