Alkermes plc (NASDAQ:ALKS) Stock Holdings Increased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 103.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,244 shares of the company's stock after buying an additional 56,138 shares during the period. Edgestream Partners L.P. owned approximately 0.07% of Alkermes worth $3,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Natixis Advisors LLC raised its stake in Alkermes by 36.8% during the fourth quarter. Natixis Advisors LLC now owns 49,922 shares of the company's stock valued at $1,436,000 after purchasing an additional 13,432 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alkermes by 147.4% in the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock valued at $25,581,000 after purchasing an additional 529,962 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Alkermes in the 1st quarter worth about $348,000. GAMMA Investing LLC boosted its position in shares of Alkermes by 31.9% during the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock valued at $178,000 after buying an additional 1,305 shares during the period. Finally, Captrust Financial Advisors grew its stake in shares of Alkermes by 9.7% during the fourth quarter. Captrust Financial Advisors now owns 18,362 shares of the company's stock valued at $528,000 after buying an additional 1,619 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Insider Activity at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total value of $103,654.06. Following the sale, the senior vice president directly owned 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

ALKS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Royal Bank Of Canada lifted their price target on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Needham & Company LLC assumed coverage on Alkermes in a research report on Wednesday, May 28th. They set a "buy" rating and a $45.00 price objective on the stock. Finally, UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $42.00 in a report on Tuesday, June 17th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alkermes has an average rating of "Moderate Buy" and an average price target of $40.92.

Alkermes Trading Down 0.5%

Shares of ALKS traded down $0.14 during trading hours on Friday, reaching $29.22. The company had a trading volume of 1,398,214 shares, compared to its average volume of 1,727,411. The firm has a 50 day simple moving average of $30.03 and a 200-day simple moving average of $30.90. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.82 and a beta of 0.44. Alkermes plc has a 12-month low of $24.48 and a 12-month high of $36.45.

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

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.