Advisor Resource Council Buys New Shares in Alkermes plc (NASDAQ:ALKS)

Advisor Resource Council purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 60,952 shares of the company's stock, valued at approximately $1,920,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock valued at $2,877,000 after purchasing an additional 311 shares in the last quarter. CIBC Asset Management Inc grew its holdings in 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 purchasing an additional 384 shares during the last quarter. Fifth Third Bancorp raised its position in Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after purchasing an additional 521 shares during the period. O Shaughnessy Asset Management LLC lifted 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 worth $408,000 after purchasing an additional 532 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,333 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $31.95, for a total value of $106,489.35. Following the completion of the sale, the senior vice president now directly owns 89,542 shares in the company, valued at $2,860,866.90. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by corporate insiders.

Alkermes Stock Performance

NASDAQ ALKS opened at $29.09 on Friday. The company has a market cap of $4.80 billion, a PE ratio of 13.92, a P/E/G ratio of 1.82 and a beta of 0.47. The firm's 50 day moving average price is $29.81 and its 200-day moving average price is $31.02. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.19). The company had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a net margin of 23.30% and a return on equity of 27.52%. The firm's revenue was down 12.6% compared to the same quarter last year. During the same period last year, the business posted $0.43 EPS. On average, analysts forecast that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALKS shares. Deutsche Bank Aktiengesellschaft upped their target price on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird lifted their target price on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Royal Bank Of Canada upped their price target on shares of Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Finally, HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and an average price target of $40.00.

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.

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