KLP Kapitalforvaltning AS Invests $2.05 Million in Alkermes plc (NASDAQ:ALKS)

KLP Kapitalforvaltning AS acquired a new stake in Alkermes plc (NASDAQ:ALKS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 71,100 shares of the company’s stock, valued at approximately $2,045,000.

Several other large investors also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in Alkermes by 6.5% in the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock valued at $99,242,000 after buying an additional 209,740 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Alkermes by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 899,764 shares of the company’s stock valued at $25,877,000 after purchasing an additional 21,821 shares during the period. Frazier Life Sciences Management L.P. bought a new stake in shares of Alkermes during the 3rd quarter valued at about $16,126,000. Rhumbline Advisers grew its stake in Alkermes by 0.4% during the fourth quarter. Rhumbline Advisers now owns 464,714 shares of the company’s stock worth $13,365,000 after purchasing an additional 1,683 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Alkermes in the fourth quarter worth approximately $12,293,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

ALKS opened at $33.53 on Friday. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 2.20 and a beta of 0.62. The firm’s fifty day moving average price is $33.38 and its two-hundred day moving average price is $30.22.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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, equities analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of research reports. Royal Bank of Canada assumed coverage on shares of Alkermes in a research report on Thursday, March 13th. They set a “sector perform” rating and a $40.00 target price on the stock. UBS Group upgraded shares of Alkermes from a “sell” rating to a “neutral” rating and upped their price objective for the company from $21.00 to $38.00 in a report on Tuesday, March 4th. The Goldman Sachs Group raised 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. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price target on shares of Alkermes in a research note on Thursday, February 13th. Finally, StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.38.

Insider Activity

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 stock was 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 of the company’s stock, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.89% of the stock is currently owned by corporate insiders.

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.