State of New Jersey Common Pension Fund D Sells 16,760 Shares of Alkermes plc (NASDAQ:ALKS)

State of New Jersey Common Pension Fund D trimmed its holdings in Alkermes plc (NASDAQ:ALKS) by 17.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,856 shares of the company’s stock after selling 16,760 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Alkermes were worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Signaturefd LLC grew its position in shares of Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after buying an additional 1,498 shares during the period. GAMMA Investing LLC increased its position in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares in the last quarter. CWM LLC raised its holdings in shares of Alkermes by 36.7% during the first quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after acquiring an additional 733 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alkermes during the second quarter worth $116,000. 95.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALKS has been the subject of a number of research reports. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a research report on Monday, September 16th. 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 report on Thursday, July 25th. Robert W. Baird lifted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, TD Cowen initiated coverage on shares of Alkermes in a research report on Monday, June 17th. They issued a “buy” rating and a $34.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.70.

Alkermes Stock Up 0.7 %

Alkermes stock opened at $28.55 on Friday. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The firm has a market capitalization of $4.83 billion, a PE ratio of 11.28, a P/E/G ratio of 0.56 and a beta of 0.46. The company’s 50-day moving average is $27.10 and its 200-day moving average is $25.82. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61.

Alkermes (NASDAQ:ALKS) last announced its quarterly 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 return on equity of 23.20% and a net margin of 19.15%. The firm had revenue of $399.13 million for the quarter, compared to the consensus estimate of $393.30 million. During the same quarter in the previous year, the business earned $0.38 earnings per share. The business’s revenue was down 35.4% compared to the same quarter last year. Sell-side analysts anticipate that Alkermes plc will post 2.36 earnings per share 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.