250,000 Shares in Alkermes plc (NASDAQ:ALKS) Acquired by C WorldWide Group Holding A S

C WorldWide Group Holding A S acquired a new position in Alkermes plc (NASDAQ:ALKS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 250,000 shares of the company’s stock, valued at approximately $7,190,000.

A number of other large investors also recently bought and sold shares of the business. CIBC Asset Management Inc raised its stake in Alkermes by 4.4% in the fourth quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock worth $263,000 after buying an additional 384 shares in the last quarter. Nicollet Investment Management Inc. raised its stake in Alkermes by 1.7% in the third quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock worth $1,227,000 after buying an additional 714 shares in the last quarter. KBC Group NV raised its stake in Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after buying an additional 774 shares in the last quarter. Venturi Wealth Management LLC bought a new position in Alkermes in the fourth quarter worth approximately $25,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Alkermes by 3.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock worth $890,000 after purchasing an additional 897 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of recent analyst reports. Mizuho upped their price target on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and upped their target price for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. The Goldman Sachs Group upped their target price 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 reissued a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Finally, StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.36.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the 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 sale, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at $2,056,298.75. This represents a 71.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now directly owns 23,013 shares in the company, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 323,608 shares of company stock valued at $10,854,725 in the last ninety days. 4.89% of the stock is currently owned by corporate insiders.

Alkermes Stock Performance

NASDAQ:ALKS opened at $35.33 on Monday. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 2.21 and a beta of 0.49. The firm’s fifty day moving average is $30.89 and its two-hundred day moving average is $29.08.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. As a group, equities research analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

About Alkermes

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.