Creative Planning Buys 7,296 Shares of Alkermes plc (NASDAQ:ALKS)

Creative Planning lifted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 28.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,365 shares of the company’s stock after buying an additional 7,296 shares during the period. Creative Planning’s holdings in Alkermes were worth $804,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its holdings 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 acquiring an additional 480 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in 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 purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC grew its position in Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after purchasing an additional 703 shares in the last quarter. CWM LLC increased its stake in 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 buying an additional 733 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes during the 2nd quarter worth approximately $116,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 5.6 %

NASDAQ:ALKS opened at $28.91 on Friday. The company has a market cap of $4.89 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.56 and a beta of 0.46. Alkermes plc has a 1 year low of $22.01 and a 1 year 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 stock’s fifty day moving average price is $27.59 and its two-hundred day moving average price is $25.78.

Alkermes (NASDAQ:ALKS) last issued its 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 the consensus estimate of $393.30 million. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue was down 35.4% compared to the same quarter last year. As a group, analysts expect that Alkermes plc will post 2.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on ALKS shares. HC Wainwright increased their price target on Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research note on Thursday. TD Cowen assumed coverage on shares of Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 price objective for the company. Robert W. Baird boosted their target price on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.