Cibc World Markets Corp Buys New Shares in Alkermes plc (NASDAQ:ALKS)

Cibc World Markets Corp bought a new stake in Alkermes plc (NASDAQ:ALKS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,070 shares of the company’s stock, valued at approximately $433,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in Alkermes during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC lifted its holdings in Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares during the last quarter. Blue Trust Inc. lifted its holdings in Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after buying an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after buying an additional 2,502 shares during the last quarter. Finally, Cornerstone Investment Partners LLC purchased a new stake in Alkermes during the 4th quarter worth about $203,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Stock Up 2.0 %

Shares of ALKS stock opened at $34.60 on Monday. The stock has a market capitalization of $5.63 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The stock’s 50-day moving average price is $32.97 and its 200 day moving average price is $30.07.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Alkermes plc will post 1.31 earnings per share 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 that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the transaction, the executive vice president now owns 57,875 shares in the company, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALKS has been the subject of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th. HC Wainwright reiterated a “neutral” rating and set a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Royal Bank of Canada initiated coverage on Alkermes in a research report on Thursday, March 13th. They set a “sector perform” rating and a $40.00 target price on the stock. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, UBS Group upgraded Alkermes from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $21.00 to $38.00 in a research report on Tuesday, March 4th. Four 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 company. According to MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $38.46.

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.