Intech Investment Management LLC Purchases 15,878 Shares of Alkermes plc (NASDAQ:ALKS)

Intech Investment Management LLC increased its stake in Alkermes plc (NASDAQ:ALKS) by 30.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,151 shares of the company’s stock after acquiring an additional 15,878 shares during the quarter. Intech Investment Management LLC’s holdings in Alkermes were worth $1,960,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ALKS. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes in the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its stake 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 period. Blue Trust Inc. grew its stake 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 period. Smartleaf Asset Management LLC grew its stake in Alkermes by 558.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after acquiring an additional 2,502 shares during the period. Finally, KBC Group NV grew its stake in Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after acquiring an additional 774 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of ALKS opened at $33.92 on Friday. The firm has a market cap of $5.52 billion, a PE ratio of 15.63, a PEG ratio of 2.20 and a beta of 0.62. The stock’s fifty day moving average price is $32.84 and its two-hundred day moving average price is $30.00. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its 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%. Sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 100,918 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,419,494.50. The trade was a 69.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada assumed coverage on Alkermes in a research note on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Alkermes in a research report on Tuesday, February 11th. They set a “buy” rating and a $40.00 target price on the stock. UBS Group raised Alkermes from a “sell” rating to a “neutral” rating and lifted their target price for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group lifted 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. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and a consensus target price of $38.46.

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.