GC Wealth Management RIA LLC Acquires 19,377 Shares of Alkermes plc $ALKS

GC Wealth Management RIA LLC lifted its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 107.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,418 shares of the company’s stock after buying an additional 19,377 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Alkermes were worth $1,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ALKS. Royal Bank of Canada raised its holdings in Alkermes by 117.2% during the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock valued at $9,098,000 after acquiring an additional 148,696 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes in the first quarter worth $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alkermes by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after purchasing an additional 20,091 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Alkermes by 32.3% in the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock valued at $398,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Alkermes by 539.4% during the 2nd quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock valued at $200,000 after purchasing an additional 5,885 shares during the period. 95.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Shane Cooke sold 61,200 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total value of $2,115,684.00. Following the transaction, the director directly owned 103,744 shares in the company, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total transaction of $319,590.00. Following the completion of the sale, the executive vice president directly owned 85,389 shares in the company, valued at $3,032,163.39. This represents a 9.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 159,468 shares of company stock worth $5,433,699 over the last three months. Company insiders own 4.59% of the company’s stock.

Analysts Set New Price Targets

ALKS has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Alkermes in a report on Monday, February 23rd. They set an “outperform” rating and a $45.00 price objective on the stock. Weiss Ratings upgraded Alkermes from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Wells Fargo & Company increased their price target on shares of Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler reduced their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.07.

Alkermes Stock Performance

NASDAQ:ALKS opened at $33.71 on Thursday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.48. The stock has a fifty day moving average of $31.41 and a 200 day moving average of $30.94. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 23.57 and a beta of 0.44.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The business had revenue of $384.55 million for the quarter. Equities analysts forecast that Alkermes plc will post -0.69 earnings per share for the current fiscal year.

Alkermes Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.