Edgestream Partners L.P. Sells 216,565 Shares of Alkermes plc (NASDAQ:ALKS)

Edgestream Partners L.P. decreased its stake in Alkermes plc (NASDAQ:ALKS) by 80.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,106 shares of the company’s stock after selling 216,565 shares during the quarter. Edgestream Partners L.P.’s holdings in Alkermes were worth $1,556,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALKS. Inceptionr LLC purchased a new stake in Alkermes in the 4th quarter worth approximately $317,000. Raymond James Financial Inc. bought a new position in shares of Alkermes in the fourth quarter worth approximately $12,293,000. Proficio Capital Partners LLC purchased a new stake in shares of Alkermes in the fourth quarter worth $940,000. Cornerstone Investment Partners LLC bought a new stake in shares of Alkermes during the 4th quarter valued at $203,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Alkermes by 558.5% during the 4th 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 in the last quarter. Institutional investors own 95.21% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total value of $3,234,421.90. Following the completion of the transaction, the executive vice president now owns 44,290 shares in the company, valued at approximately $1,419,494.50. The trade was a 69.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALKS shares. Mizuho increased their price target on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. UBS Group upgraded Alkermes from a “sell” rating to a “neutral” rating and increased their target price for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. The Goldman Sachs Group lifted their target price on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 14th. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Alkermes in a research report on Tuesday, February 11th. They set a “buy” rating and a $40.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Alkermes Stock Performance

Shares of ALKS opened at $35.24 on Tuesday. The stock has a market capitalization of $5.73 billion, a PE ratio of 16.24, a P/E/G ratio of 2.20 and a beta of 0.62. The company’s fifty day moving average is $31.98 and its 200 day moving average is $29.70. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. As a group, research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current 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.