Alkermes plc (NASDAQ:ALKS) Shares Sold by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd cut its holdings in Alkermes plc (NASDAQ:ALKS) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,000 shares of the company’s stock after selling 800 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in Alkermes were worth $230,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Aigen Investment Management LP acquired a new stake in Alkermes during the third quarter worth approximately $216,000. Victory Capital Management Inc. boosted its position in Alkermes by 18.4% during 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 Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after acquiring an additional 774 shares during the last quarter. Royce & Associates LP boosted its position in Alkermes by 49.4% during the third quarter. Royce & Associates LP now owns 67,628 shares of the company’s stock worth $1,893,000 after acquiring an additional 22,356 shares during the last quarter. Finally, Natixis Advisors LLC boosted 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 last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. HC Wainwright restated a “neutral” rating and set a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes in a research note on Tuesday, February 11th. They set a “buy” rating and a $40.00 price target on the stock. UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and increased their price target for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. Royal Bank of Canada started coverage on shares of Alkermes in a research note on Thursday. They set a “sector perform” rating and a $40.00 price target on the stock. Finally, StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.46.

Alkermes Trading Up 1.2 %

Shares of ALKS stock opened at $34.03 on Monday. The company’s fifty day simple moving average is $32.38 and its 200-day simple moving average is $29.86. Alkermes plc has a 52 week low of $22.90 and a 52 week high of $36.45. The company has a market cap of $5.53 billion, a PE ratio of 15.68, a P/E/G ratio of 2.20 and a beta of 0.62.

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%. Equities research analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the transaction, the executive vice president now owns 57,875 shares in the company, valued at $2,056,298.75. The trade was a 71.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.89% of the stock is currently owned by company insiders.

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.