Sequoia Financial Advisors LLC Invests $215,000 in Alkermes plc (NASDAQ:ALKS)

Sequoia Financial Advisors LLC bought a new position in Alkermes plc (NASDAQ:ALKS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,474 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently modified their holdings of ALKS. Victory Capital Management Inc. grew its stake in shares of Alkermes by 18.4% in the third quarter. Victory Capital Management Inc. now owns 136,282 shares of the company’s stock worth $3,815,000 after acquiring an additional 21,221 shares during the last quarter. KBC Group NV boosted its position in shares of Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after buying an additional 774 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Alkermes by 190.3% during the third quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock valued at $1,021,000 after buying an additional 23,921 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of Alkermes by 72.8% during the third quarter. Pathstone Holdings LLC now owns 71,324 shares of the company’s stock valued at $1,996,000 after buying an additional 30,048 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Alkermes by 21.1% during the third quarter. Advisors Asset Management Inc. now owns 10,158 shares of the company’s stock valued at $284,000 after buying an additional 1,771 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALKS shares. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research report on Tuesday, February 11th. They set a “buy” rating and a $40.00 price objective on the stock. Royal Bank of Canada started coverage on Alkermes in a research report on Thursday, March 13th. They set a “sector perform” rating and a $40.00 price objective on the stock. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a research report on Thursday, February 13th. UBS Group raised Alkermes from a “sell” rating to a “neutral” rating and increased their price objective for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group raised their target price on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.46.

Insider Activity at Alkermes

In related 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 transaction of $3,234,421.90. Following the sale, the executive vice president now owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. This trade represents 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 this link. 4.89% of the stock is owned by corporate insiders.

Alkermes Stock Down 1.2 %

NASDAQ ALKS opened at $33.92 on Friday. The stock’s 50-day moving average price is $32.84 and its 200-day moving average price is $30.00. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The company has a market capitalization of $5.52 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data 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%. Research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

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.