Hsbc Holdings PLC Increases Position in Alkermes plc (NASDAQ:ALKS)

Hsbc Holdings PLC boosted its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 125.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,663 shares of the company's stock after purchasing an additional 16,534 shares during the period. Hsbc Holdings PLC's holdings in Alkermes were worth $856,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ALKS. Natixis Advisors LLC boosted its stake in shares of Alkermes by 36.8% during the 4th quarter. Natixis Advisors LLC now owns 49,922 shares of the company's stock valued at $1,436,000 after buying an additional 13,432 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alkermes by 147.4% during the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock valued at $25,581,000 after acquiring an additional 529,962 shares during the last quarter. Barclays PLC grew its holdings in Alkermes by 108.8% during the 3rd quarter. Barclays PLC now owns 423,931 shares of the company's stock worth $11,867,000 after acquiring an additional 220,893 shares in the last quarter. Savant Capital LLC increased its position in shares of Alkermes by 11.6% in the 4th quarter. Savant Capital LLC now owns 11,075 shares of the company's stock worth $319,000 after purchasing an additional 1,152 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Alkermes by 558.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock valued at $85,000 after purchasing an additional 2,502 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Stock Up 3.9 %

Alkermes stock opened at $31.78 on Monday. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 2.20 and a beta of 0.39. The firm has a 50-day moving average price of $31.33 and a two-hundred day moving average price of $30.47.

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 analysts' consensus estimates of $0.32 by ($0.19). The business had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The business's quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share. Research analysts expect that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright reissued a "neutral" rating and issued a $46.00 price objective on shares of Alkermes in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Royal Bank of Canada lifted their price objective on shares of Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday. UBS Group reissued a "sector perform" rating on shares of Alkermes in a report on Monday, April 28th. Finally, Robert W. Baird lifted their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

Insider Activity

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the transaction, the executive vice president now owns 57,875 shares of the company's stock, valued at approximately $2,056,298.75. This trade represents a 71.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company's stock.

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.

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