Bank of Montreal Can Grows Stock Position in Alkermes plc (NASDAQ:ALKS)

Bank of Montreal Can lifted its position in Alkermes plc (NASDAQ:ALKS) by 111.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,756 shares of the company’s stock after acquiring an additional 25,162 shares during the period. Bank of Montreal Can’s holdings in Alkermes were worth $1,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ALKS. Price T Rowe Associates Inc. MD boosted its stake in Alkermes by 421.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after purchasing an additional 6,730,671 shares during the last quarter. Wellington Management Group LLP boosted its position in Alkermes by 29.8% during the fourth quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock worth $422,798,000 after acquiring an additional 3,494,678 shares during the last quarter. Vanguard Group Inc. grew its stake in Alkermes by 12.3% during the 4th quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after acquiring an additional 2,288,185 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Alkermes by 31.8% in the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after acquiring an additional 1,362,079 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Alkermes by 87.1% in the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after purchasing an additional 1,025,905 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALKS. Robert W. Baird upped their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen initiated coverage on Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 target price for the company. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. JPMorgan Chase & Co. upped their price objective on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, HC Wainwright lifted their target price on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. 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 stock. Based on data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus price target of $36.70.

Alkermes Stock Performance

NASDAQ:ALKS opened at $28.97 on Friday. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. The company has a 50 day moving average price of $27.61 and a 200 day moving average price of $25.77. The stock has a market capitalization of $4.90 billion, a P/E ratio of 11.45, a PEG ratio of 0.59 and a beta of 0.46.

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

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.