Tower Research Capital LLC TRC Increases Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Tower Research Capital LLC TRC increased its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 393.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,674 shares of the company's stock after acquiring an additional 16,484 shares during the period. Tower Research Capital LLC TRC's holdings in Alkermes were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in shares of Alkermes in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC grew its position in Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock valued at $47,000 after acquiring an additional 842 shares during the last quarter. Blue Trust Inc. grew its position in Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock valued at $49,000 after acquiring an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Alkermes by 558.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock worth $85,000 after acquiring an additional 2,502 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Alkermes in the fourth quarter worth about $203,000. 95.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on ALKS. The Goldman Sachs Group upped their price objective on shares of Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. HC Wainwright reissued a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a report on Thursday, February 13th. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Royal Bank of Canada reiterated an "underperform" rating on shares of Alkermes in a research report on Monday. Finally, UBS Group reaffirmed a "sector perform" rating on shares of Alkermes in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $38.08.

Insiders Place Their Bets

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

Alkermes Stock Performance

Shares of ALKS stock remained flat at $28.77 during mid-day trading on Wednesday. The stock had a trading volume of 2,422,948 shares, compared to its average volume of 1,759,968. The company has a market cap of $4.74 billion, a P/E ratio of 13.26, a PEG ratio of 2.20 and a beta of 0.39. The stock's 50 day simple moving average is $31.62 and its two-hundred day simple moving average is $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 results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. On average, equities analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

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.