EFG Asset Management North America Corp. Has $3.73 Million Stock Holdings in Alkermes plc (NASDAQ:ALKS)

EFG Asset Management North America Corp. grew its position in shares of Alkermes plc (NASDAQ:ALKS) by 58.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,662 shares of the company’s stock after acquiring an additional 47,901 shares during the quarter. EFG Asset Management North America Corp. owned 0.08% of Alkermes worth $3,728,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new position in Alkermes during the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after buying an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Alkermes by 558.5% in the 4th 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 in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at about $203,000. 95.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALKS has been the subject of several recent research reports. UBS Group raised Alkermes from a “sell” rating to a “neutral” rating and increased their price target 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 report on Thursday, February 13th. The Goldman Sachs Group boosted their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Royal Bank of Canada assumed coverage on shares of Alkermes in a research note on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alkermes in a research note on Tuesday, February 11th. They set a “buy” rating and a $40.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $38.46.

Alkermes Stock Up 0.5 %

Shares of ALKS stock opened at $34.79 on Tuesday. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $36.45. The company has a market capitalization of $5.66 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. The firm has a 50 day moving average price of $33.10 and a two-hundred day moving average price of $30.12.

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

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 57,875 shares in the company, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.89% of the stock is currently owned by corporate insiders.

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.