Canada Pension Plan Investment Board Buys 9,300 Shares of Alkermes plc (NASDAQ:ALKS)

Canada Pension Plan Investment Board boosted its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 295,600 shares of the company's stock after buying an additional 9,300 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.18% of Alkermes worth $8,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc grew its stake 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 valued at $263,000 after acquiring an additional 384 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Alkermes by 3.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock worth $408,000 after purchasing an additional 532 shares during the period. Sei Investments Co. increased its stake in shares of Alkermes by 1.1% in 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 raised 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 valued at $47,000 after purchasing an additional 842 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in shares of Alkermes during the 4th quarter valued at $25,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the transaction, the executive vice president now owns 57,875 shares in the company, valued at $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.40% of the company's stock.

Alkermes Price Performance

Shares of Alkermes stock traded up $0.17 during trading hours on Friday, reaching $27.84. The company's stock had a trading volume of 1,206,315 shares, compared to its average volume of 1,759,269. The firm has a 50 day moving average price of $31.92 and a 200-day moving average price of $30.43. The stock has a market cap of $4.59 billion, a P/E ratio of 12.83, a P/E/G ratio of 2.20 and a beta of 0.39. Alkermes plc has a one year low of $22.90 and a one year high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued 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 return on equity of 30.80% and a net margin of 23.57%. As a group, sell-side analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.