Syon Capital LLC Buys New Shares in Alkermes plc (NASDAQ:ALKS)

Syon Capital LLC purchased a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,443 shares of the company's stock, valued at approximately $444,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALKS. Quantessence Capital LLC acquired a new stake in shares of Alkermes during the fourth quarter worth approximately $359,000. Hsbc Holdings PLC increased its stake in shares of Alkermes by 125.9% during the 4th quarter. Hsbc Holdings PLC now owns 29,663 shares of the company's stock worth $856,000 after purchasing an additional 16,534 shares during the last quarter. Avoro Capital Advisors LLC bought a new position in shares of Alkermes during the 4th quarter valued at $70,462,000. Tower Research Capital LLC TRC increased its position in Alkermes by 393.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,674 shares of the company's stock worth $595,000 after buying an additional 16,484 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Alkermes by 3.7% in the 4th quarter. MetLife Investment Management LLC now owns 96,695 shares of the company's stock valued at $2,781,000 after acquiring an additional 3,492 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALKS. The Goldman Sachs Group increased their price objective on Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, February 14th. HC Wainwright reiterated a "neutral" rating and issued a $46.00 price objective on shares of Alkermes in a research report on Thursday, February 13th. StockNews.com upgraded Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Royal Bank of Canada reissued an "underperform" rating on shares of Alkermes in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.08.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the sale, the executive vice president now directly owns 44,290 shares of the company's stock, valued at approximately $1,419,494.50. The trade was a 69.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Alkermes Stock Performance

Shares of Alkermes stock traded down $0.19 on Wednesday, hitting $28.58. The company had a trading volume of 649,647 shares, compared to its average volume of 1,754,747. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 2.20 and a beta of 0.39. The stock has a 50 day moving average of $31.62 and a 200-day moving average of $30.41. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Equities analysts anticipate 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.