American Century Companies Inc. Purchases 1,025,905 Shares of Alkermes plc (NASDAQ:ALKS)

American Century Companies Inc. increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 87.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,203,456 shares of the company’s stock after buying an additional 1,025,905 shares during the period. American Century Companies Inc. owned 1.30% of Alkermes worth $53,103,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Alkermes by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock worth $66,666,000 after purchasing an additional 90,219 shares during the last quarter. Principal Financial Group Inc. grew its position in Alkermes by 1,150.2% in the 4th quarter. Principal Financial Group Inc. now owns 939,542 shares of the company’s stock worth $26,063,000 after purchasing an additional 864,389 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Alkermes by 25.7% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,845 shares of the company’s stock worth $273,000 after purchasing an additional 2,015 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Alkermes in the 4th quarter worth $927,000. Finally, Norges Bank acquired a new stake in Alkermes in the 4th quarter worth $55,548,000. 95.21% of the stock is owned by institutional investors.

Alkermes Trading Up 0.6 %

Shares of ALKS stock opened at $27.83 on Tuesday. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $32.88. The company has a market capitalization of $4.71 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.56 and a beta of 0.46. The firm has a 50-day moving average price of $26.73 and a 200 day moving average price of $25.84. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.70. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue was down 35.4% on a year-over-year basis. Research analysts forecast that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Alkermes in a research report on Monday, June 17th. They issued a “buy” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. HC Wainwright raised their price objective on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $36.70.

Alkermes 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.