60,952 Shares in Alkermes plc (NASDAQ:ALKS) Acquired by Advisor Resource Council

Advisor Resource Council acquired a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 60,952 shares of the company's stock, valued at approximately $1,920,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALKS. Ritholtz Wealth Management bought a new stake in Alkermes in the first quarter valued at approximately $348,000. Fifth Third Bancorp increased its holdings in shares of Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after acquiring an additional 521 shares during the last quarter. USA Financial Formulas bought a new stake in Alkermes in the 1st quarter valued at $49,000. SG Americas Securities LLC lifted its holdings in Alkermes by 25.8% during the 1st quarter. SG Americas Securities LLC now owns 13,988 shares of the company's stock valued at $462,000 after purchasing an additional 2,872 shares during the last quarter. Finally, Avanza Fonder AB bought a new position in Alkermes during the first quarter worth $266,000. Institutional investors own 95.21% of the company's stock.

Insider Activity

In other news, SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the completion of the sale, the senior vice president now directly owns 86,208 shares of the company's stock, valued at $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.40% of the company's stock.

Alkermes Trading Up 0.3%

Alkermes stock traded up $0.09 during mid-day trading on Tuesday, reaching $29.35. The company had a trading volume of 1,761,197 shares, compared to its average volume of 1,725,297. The business has a fifty day simple moving average of $29.84 and a 200 day simple moving average of $31.01. The company has a market cap of $4.84 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.80 and a beta of 0.47. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALKS. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. Robert W. Baird raised their price objective on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. 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 report on Thursday, March 27th. Finally, Needham & Company LLC initiated coverage on Alkermes in a report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price target for the company. Three equities research 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.