Advantage Alpha Capital Partners LP Has $401,000 Position in Alkermes plc (NASDAQ:ALKS)

Advantage Alpha Capital Partners LP cut its holdings in Alkermes plc (NASDAQ:ALKS) by 40.2% during the fourth quarter, HoldingsChannel reports. The firm owned 13,947 shares of the company’s stock after selling 9,371 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Alkermes were worth $401,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Centiva Capital LP acquired a new position in shares of Alkermes during the third quarter worth approximately $367,000. Natixis Advisors LLC increased its position in Alkermes by 190.3% during the third quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after acquiring an additional 23,921 shares during the period. Sanctuary Advisors LLC raised its stake in Alkermes by 254.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock valued at $944,000 after purchasing an additional 23,541 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Alkermes by 74.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company’s stock valued at $4,184,000 after purchasing an additional 63,939 shares during the period. Finally, Barclays PLC grew its position in Alkermes by 108.8% in the 3rd quarter. Barclays PLC now owns 423,931 shares of the company’s stock worth $11,867,000 after purchasing an additional 220,893 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada initiated coverage on shares of Alkermes in a research report on Thursday, March 13th. They set a “sector perform” rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Alkermes in a research report on Tuesday, February 11th. They issued a “buy” rating and a $40.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 14th. StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and boosted their price target for the company from $21.00 to $38.00 in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.46.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 100,918 shares of the company’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 transaction, the executive vice president now owns 44,290 shares of the company’s stock, valued at $1,419,494.50. This represents a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.89% of the stock is owned by company insiders.

Alkermes Price Performance

Shares of ALKS opened at $34.79 on Tuesday. The company has a market capitalization of $5.66 billion, a P/E ratio of 16.03, a PEG ratio of 2.20 and a beta of 0.62. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The business’s 50 day simple moving average is $33.10 and its 200-day simple moving average is $30.12.

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 return on equity of 30.80% and a net margin of 23.57%. On average, sell-side analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.

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.