E Fund Management Co. Ltd. Purchases 2,704 Shares of Alkermes plc (NASDAQ:ALKS)

E Fund Management Co. Ltd. increased its stake in shares of Alkermes plc (NASDAQ:ALKS) by 18.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,520 shares of the company’s stock after purchasing an additional 2,704 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Alkermes were worth $422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ALKS. Dimensional Fund Advisors LP lifted its stake in shares of Alkermes by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock worth $66,666,000 after purchasing an additional 90,219 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Alkermes by 25.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 9,845 shares of the company’s stock worth $273,000 after purchasing an additional 2,015 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Alkermes during the 4th quarter worth $927,000. Norges Bank purchased a new stake in shares of Alkermes during the 4th quarter worth $55,548,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Alkermes by 16.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 113,184 shares of the company’s stock worth $3,140,000 after purchasing an additional 16,008 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of research analyst reports. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a research note on Monday. TD Cowen initiated coverage on Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 price target for the company. JPMorgan Chase & Co. increased their price target on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, Robert W. Baird increased their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $36.70.

Alkermes Stock Up 0.3 %

Shares of ALKS stock opened at $27.83 on Thursday. The stock’s 50-day simple moving average is $26.90 and its 200-day simple moving average is $25.84. 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 firm has a market capitalization of $4.71 billion, a PE ratio of 11.00, a P/E/G ratio of 0.56 and a beta of 0.46. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88.

Alkermes (NASDAQ:ALKS) last posted its 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 for the quarter, compared to analyst estimates of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. Alkermes’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same period last year, the company earned $0.38 earnings per share. Equities analysts expect that Alkermes plc will post 2.36 earnings per share 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.