Alkermes plc (NASDAQ:ALKS) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in Alkermes plc (NASDAQ:ALKS) by 6.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,023 shares of the company’s stock after purchasing an additional 5,414 shares during the quarter. Edgestream Partners L.P. owned 0.05% of Alkermes worth $2,049,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Alkermes by 14.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock worth $69,507,000 after buying an additional 371,039 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Alkermes by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 54,817 shares of the company’s stock valued at $1,321,000 after purchasing an additional 1,840 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Alkermes during the second quarter worth $1,285,000. American Century Companies Inc. boosted its position in Alkermes by 87.1% during the second 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. Finally, Rice Hall James & Associates LLC grew its holdings in Alkermes by 16.7% in the second quarter. Rice Hall James & Associates LLC now owns 467,759 shares of the company’s stock valued at $11,273,000 after purchasing an additional 66,950 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

NASDAQ ALKS opened at $28.35 on Friday. The business’s 50-day moving average price is $27.00 and its 200 day moving average price is $25.86. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. Alkermes plc has a twelve month low of $22.01 and a twelve month high of $32.88. The company has a market capitalization of $4.80 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALKS shares. JPMorgan Chase & Co. boosted their price objective on shares of 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 increased their price target on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. HC Wainwright lifted their price objective on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. TD Cowen started coverage on Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 target price on the stock. Finally, StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.70.

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.