Ieq Capital LLC Makes New $1.06 Million Investment in Alkermes plc (NASDAQ:ALKS)

Ieq Capital LLC bought a new position in shares of Alkermes plc (NASDAQ:ALKS) during the fourth quarter, Holdings Channel reports. The institutional investor bought 36,763 shares of the company’s stock, valued at approximately $1,057,000.

Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its position in shares of Alkermes by 4.4% during the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock valued at $263,000 after buying an additional 384 shares during the last quarter. Nicollet Investment Management Inc. grew its holdings in shares of Alkermes by 1.7% during the third quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock valued at $1,227,000 after purchasing an additional 714 shares during the last quarter. KBC Group NV raised its position in shares of Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after purchasing an additional 774 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of Alkermes in the 4th quarter worth approximately $25,000. Finally, Exchange Traded Concepts LLC boosted its position in Alkermes by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company’s stock valued at $890,000 after purchasing an additional 897 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

ALKS stock opened at $35.52 on Tuesday. The firm has a market cap of $5.78 billion, a PE ratio of 16.37, a P/E/G ratio of 2.21 and a beta of 0.49. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45. The firm has a 50 day simple moving average of $30.89 and a 200 day simple moving average of $29.10.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share 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%. As a group, sell-side analysts expect that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,221 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $31.50, for a total transaction of $290,461.50. Following the transaction, the executive vice president now directly owns 59,730 shares of the company’s stock, valued at approximately $1,881,495. The trade was a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the sale, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. 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 three months. 4.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.