Profund Advisors LLC Has $1.44 Million Position in Alkermes plc (NASDAQ:ALKS)

Profund Advisors LLC lifted its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,869 shares of the company’s stock after buying an additional 3,021 shares during the period. Profund Advisors LLC’s holdings in Alkermes were worth $1,443,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Signaturefd LLC grew its stake in Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares in the last quarter. Hexagon Capital Partners LLC increased 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 buying an additional 1,498 shares during the last quarter. GAMMA Investing LLC raised its position in Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares in the last quarter. CWM LLC lifted its stake in Alkermes by 36.7% in the first quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after acquiring an additional 733 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes in the 2nd quarter valued at about $116,000. Institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 price target on shares of Alkermes in a report on Monday, September 16th. TD Cowen assumed coverage on Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 price target for the company. HC Wainwright upped their price objective on shares of Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average price target of $36.70.

Alkermes Trading Down 1.6 %

Shares of NASDAQ:ALKS opened at $28.10 on Tuesday. The business’s 50 day simple moving average is $27.19 and its 200 day simple moving average is $25.79. 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 company has a market capitalization of $4.76 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.56 and a beta of 0.46.

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 company had revenue of $399.13 million for 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%. Alkermes’s revenue was down 35.4% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. On average, research analysts anticipate that Alkermes plc will post 2.36 EPS for the current fiscal 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.