Cwm LLC Increases Holdings in Alkermes plc (NASDAQ:ALKS)

Cwm LLC raised its stake in shares of Alkermes plc (NASDAQ:ALKS) by 83.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,547 shares of the company’s stock after buying an additional 6,615 shares during the quarter. Cwm LLC’s holdings in Alkermes were worth $407,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in ALKS. Diversified Trust Co lifted its holdings in shares of Alkermes by 4.6% during the third quarter. Diversified Trust Co now owns 38,131 shares of the company’s stock valued at $1,067,000 after purchasing an additional 1,684 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Alkermes by 83.8% during the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after purchasing an additional 1,917 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Alkermes by 0.3% during the third quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock valued at $6,175,000 after purchasing an additional 700 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Alkermes during the third quarter valued at $571,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Alkermes during the second quarter valued at $228,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS opened at $28.27 on Monday. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The business has a 50-day simple moving average of $27.76 and a two-hundred day simple moving average of $25.82. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.56 and a beta of 0.46. Alkermes plc has a 52 week low of $22.01 and a 52 week high of $32.88.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALKS. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price target on shares of Alkermes in a report on Monday, October 14th. JPMorgan Chase & Co. upped their price target on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 price objective on shares of Alkermes in a research report on Thursday, October 10th. Finally, Robert W. Baird upped their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.