Alkermes plc (NASDAQ:ALKS) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its position in shares of Alkermes plc (NASDAQ:ALKS) by 31.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,640,642 shares of the company’s stock after purchasing an additional 1,362,079 shares during the quarter. Pacer Advisors Inc. owned approximately 3.33% of Alkermes worth $135,939,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC grew its stake in Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after acquiring an additional 703 shares during the period. CWM LLC increased its holdings in shares of Alkermes by 36.7% in the 1st quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after acquiring an additional 733 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes during the 2nd quarter worth approximately $116,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALKS shares. JPMorgan Chase & Co. upped their price target on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. TD Cowen assumed coverage on Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 target price on the stock. HC Wainwright lifted their price target on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Trading Up 0.7 %

NASDAQ ALKS opened at $28.55 on Friday. The company has a market cap of $4.83 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.56 and a beta of 0.46. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The company has a 50-day moving average of $27.10 and a 200-day moving average of $25.85.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The firm had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. Alkermes’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.38 earnings per share. As a group, equities analysts predict that Alkermes plc will post 2.36 earnings per share for the current year.

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.