DnB Asset Management AS Has $379,000 Position in Alkermes plc (NASDAQ:ALKS)

DnB Asset Management AS cut its position in shares of Alkermes plc (NASDAQ:ALKS) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,176 shares of the company’s stock after selling 1,653 shares during the quarter. DnB Asset Management AS’s holdings in Alkermes were worth $379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerity Partners LLC bought a new position in shares of Alkermes during the 3rd quarter worth approximately $439,000. BNP Paribas Financial Markets lifted its position in Alkermes by 74.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company’s stock worth $4,184,000 after buying an additional 63,939 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alkermes by 55.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 405,382 shares of the company’s stock worth $11,347,000 after buying an additional 144,506 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Alkermes by 68.2% in the 3rd quarter. Verition Fund Management LLC now owns 14,455 shares of the company’s stock valued at $405,000 after acquiring an additional 5,863 shares in the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Alkermes in the third quarter valued at about $367,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

ALKS stock opened at $32.65 on Thursday. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The company has a market capitalization of $5.31 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. The company’s 50-day simple moving average is $33.62 and its 200 day simple moving average is $30.41.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping 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%. On average, analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 57,875 shares in the company, valued at approximately $2,056,298.75. This trade represents a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.89% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ALKS. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a research note on Thursday, February 13th. Royal Bank of Canada began coverage on shares of Alkermes in a research report on Thursday, March 13th. They set a “sector perform” rating and a $40.00 price target on the stock. UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $39.38.

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.