Alkermes plc (NASDAQ:ALKS) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 34.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,354 shares of the company’s stock after buying an additional 45,400 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.10% of Alkermes worth $4,865,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Alkermes in the 4th quarter valued at approximately $30,000. GAMMA Investing LLC purchased a new stake in shares of Alkermes in the 4th quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Alkermes in the 3rd quarter valued at approximately $37,000. Daiwa Securities Group Inc. increased its position in shares of Alkermes by 166.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after purchasing an additional 1,100 shares during the last quarter. Finally, CWM LLC increased its position in shares of Alkermes by 92.8% in the 4th quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after purchasing an additional 962 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ALKS. TD Cowen began coverage on shares of Alkermes in a research report on Monday. They issued a “buy” rating and a $34.00 price objective on the stock. UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a research report on Tuesday, February 20th. StockNews.com downgraded shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. HC Wainwright reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Alkermes in a research report on Tuesday, June 4th. Finally, Cantor Fitzgerald increased their target price on shares of Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Alkermes Stock Up 2.1 %

Shares of NASDAQ:ALKS opened at $25.01 on Tuesday. The stock has a market cap of $4.23 billion, a P/E ratio of 9.89, a P/E/G ratio of 0.49 and a beta of 0.47. The firm has a fifty day moving average price of $24.30 and a 200 day moving average price of $26.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. Alkermes plc has a 1-year low of $22.01 and a 1-year high of $33.71.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The business had revenue of $350.37 million for the quarter, compared to analyst estimates of $360.26 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Sell-side analysts predict that Alkermes plc will post 2.27 EPS for the current year.

About Alkermes

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.