264,620 Shares in Alkermes plc $ALKS Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC bought a new position in Alkermes plc (NASDAQ:ALKS) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 264,620 shares of the company’s stock, valued at approximately $7,571,000.

Several other large investors have also bought and sold shares of the company. Twin Tree Management LP acquired a new stake in Alkermes during the 1st quarter worth about $29,000. Armstrong Advisory Group Inc. bought a new position in Alkermes in the 2nd quarter valued at $29,000. Brooklyn Investment Group raised its position in Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after purchasing an additional 964 shares during the last quarter. Quantbot Technologies LP raised its position in Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after purchasing an additional 385 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Alkermes by 480.6% in the second quarter. Public Employees Retirement System of Ohio now owns 4,418 shares of the company’s stock worth $126,000 after purchasing an additional 3,657 shares during the period. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 0.3%

Shares of NASDAQ ALKS opened at $29.72 on Tuesday. The firm has a market capitalization of $4.91 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.61 and a beta of 0.54. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45. The stock’s 50-day simple moving average is $29.44 and its two-hundred day simple moving average is $29.16.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The company had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. Alkermes’s revenue was down 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total transaction of $283,770.00. Following the completion of the sale, the executive vice president owned 73,740 shares of the company’s stock, valued at approximately $2,325,022.20. The trade was a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALKS shares. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price (up previously from $38.00) on shares of Alkermes in a research note on Thursday. Needham & Company LLC set a $43.00 price objective on Alkermes in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday, October 14th. Royal Bank Of Canada raised their price target on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company upgraded Alkermes to a “strong-buy” rating in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $43.25.

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.