Geode Capital Management LLC Sells 55,278 Shares of Alkermes plc (NASDAQ:ALKS)

Geode Capital Management LLC trimmed its position in shares of Alkermes plc (NASDAQ:ALKS) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,818,649 shares of the company’s stock after selling 55,278 shares during the period. Geode Capital Management LLC owned approximately 2.36% of Alkermes worth $109,849,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC acquired a new position in shares of Alkermes during the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after buying an additional 842 shares during the last quarter. Blue Trust Inc. raised its position in shares of Alkermes by 2,231.5% during the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after buying an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Alkermes by 558.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after buying an additional 2,502 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Alkermes during the fourth quarter valued at about $203,000. 95.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.89% of the stock is owned by insiders.

Alkermes Trading Up 2.2 %

NASDAQ ALKS opened at $28.81 on Thursday. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 2.20 and a beta of 0.39. The company has a 50 day moving average of $33.31 and a 200-day moving average of $30.45. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45.

Alkermes (NASDAQ:ALKS) last released 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%. On average, analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Analyst Ratings Changes

ALKS has been the subject of several recent research reports. HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a research report on Thursday, February 13th. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. Royal Bank of Canada initiated coverage on shares of Alkermes in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price target for the company. Finally, The Goldman Sachs Group increased their price target 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

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.