GC Wealth Management RIA LLC Has $1.05 Million Stake in Alkermes plc $ALKS

GC Wealth Management RIA LLC lifted its stake in Alkermes plc (NASDAQ:ALKS) by 107.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,418 shares of the company’s stock after buying an additional 19,377 shares during the period. GC Wealth Management RIA LLC’s holdings in Alkermes were worth $1,047,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ALKS. Sanctuary Advisors LLC grew its stake in shares of Alkermes by 2.7% in the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock worth $340,000 after acquiring an additional 315 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Alkermes by 4.5% during the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after purchasing an additional 376 shares in the last quarter. Horizon Investments LLC boosted its holdings in Alkermes by 0.9% during the third quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after purchasing an additional 387 shares during the last quarter. AMG National Trust Bank grew its position in Alkermes by 0.6% in the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock worth $1,805,000 after purchasing an additional 388 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Alkermes by 1.1% in the 2nd quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock worth $1,005,000 after purchasing an additional 395 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Down 1.3%

Alkermes stock opened at $33.71 on Thursday. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.48. The firm has a 50 day moving average price of $31.41 and a 200-day moving average price of $30.94. The company has a market capitalization of $5.60 billion, a P/E ratio of 23.57 and a beta of 0.44.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The company had revenue of $384.55 million for the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. Equities analysts expect that Alkermes plc will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on ALKS. Bank of America lifted their target price on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. HC Wainwright reaffirmed a “neutral” rating and set a $43.00 price target on shares of Alkermes in a research report on Thursday, February 26th. Wells Fargo & Company lifted their price target on Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Wolfe Research started coverage on Alkermes in a research report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $44.07.

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 6,000 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $30.00, for a total value of $180,000.00. Following the completion of the sale, the senior vice president directly owned 109,769 shares of the company’s stock, valued at $3,293,070. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $34.57, for a total value of $70,315.38. Following the transaction, the executive vice president directly owned 233,592 shares in the company, valued at $8,075,275.44. This represents a 0.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 159,468 shares of company stock valued at $5,433,699 in the last three months. 4.59% of the stock is currently owned by company insiders.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.