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

Edgestream Partners L.P. raised its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 103.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 110,244 shares of the company's stock after purchasing an additional 56,138 shares during the period. Edgestream Partners L.P. owned 0.07% of Alkermes worth $3,640,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in shares of Alkermes in the fourth quarter worth about $940,000. Raymond James Financial Inc. purchased a new stake in shares of Alkermes in the fourth quarter worth about $12,293,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Alkermes by 13.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,336 shares of the company's stock worth $1,103,000 after buying an additional 4,444 shares in the last quarter. HighTower Advisors LLC raised its position in Alkermes by 34.8% during the fourth quarter. HighTower Advisors LLC now owns 16,543 shares of the company's stock valued at $476,000 after purchasing an additional 4,269 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in Alkermes during the fourth quarter valued at approximately $215,000. Institutional investors own 95.21% of the company's stock.

Alkermes Trading Down 0.5%

Shares of NASDAQ ALKS traded down $0.14 during midday trading on Friday, reaching $29.22. 1,398,214 shares of the company were exchanged, compared to its average volume of 1,727,411. Alkermes plc has a 1 year low of $24.48 and a 1 year high of $36.45. The stock has a fifty day simple moving average of $30.03 and a 200 day simple moving average of $30.90. The stock has a market cap of $4.82 billion, a P/E ratio of 13.98, a PEG ratio of 1.82 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $307.53 million. Alkermes had a return on equity of 27.52% and a net margin of 23.30%. The company's revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Transactions at Alkermes

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALKS shares. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. Robert W. Baird increased their price target on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Royal Bank Of Canada increased their price target on Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $40.92.

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.