Measured Wealth Private Client Group LLC Boosts Stock Position in Alkermes plc (NASDAQ:ALKS)

Measured Wealth Private Client Group LLC increased its position in Alkermes plc (NASDAQ:ALKS) by 28.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,682 shares of the company’s stock after purchasing an additional 2,148 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Alkermes were worth $262,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC raised its position in Alkermes by 3.4% in the third quarter. FMR LLC now owns 1,311,009 shares of the company’s stock worth $36,721,000 after acquiring an additional 42,748 shares during the period. Northern Trust Corp raised its stake in shares of Alkermes by 0.8% in the third quarter. Northern Trust Corp now owns 1,688,887 shares of the company’s stock worth $47,306,000 after buying an additional 13,545 shares during the period. Natixis Advisors L.P. bought a new stake in shares of Alkermes during the third quarter valued at approximately $1,736,000. O Shaughnessy Asset Management LLC lifted its stake in Alkermes by 21.7% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 12,088 shares of the company’s stock worth $339,000 after purchasing an additional 2,152 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Alkermes by 1,562.0% during the third quarter. Qube Research & Technologies Ltd now owns 120,778 shares of the company’s stock valued at $3,383,000 after buying an additional 113,511 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALKS. Cantor Fitzgerald upped their target price on Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Robert W. Baird began coverage on Alkermes in a research report on Tuesday, March 19th. They set an “outperform” rating and a $37.00 target price for the company. TD Cowen began coverage on shares of Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $39.00 price objective on shares of Alkermes in a report on Monday, April 1st. Finally, StockNews.com downgraded shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Alkermes Price Performance

Shares of ALKS stock opened at $24.19 on Wednesday. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.49 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.77 and a current ratio of 3.20. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The stock’s 50-day simple moving average is $24.28 and its 200-day simple moving average is $26.53.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data 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 net margin of 25.17% and a return on equity of 20.31%. The firm had revenue of $350.37 million during the quarter, compared to analysts’ expectations of $360.26 million. During the same period in the previous year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts forecast that Alkermes plc will post 2.27 earnings per share for the current fiscal 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.