Sei Investments Co. Trims Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Sei Investments Co. decreased its position in Alkermes plc (NASDAQ:ALKS) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,157 shares of the company’s stock after selling 3,785 shares during the period. Sei Investments Co.’s holdings in Alkermes were worth $1,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALKS. TD Asset Management Inc raised its stake in Alkermes by 14.6% in the 4th quarter. TD Asset Management Inc now owns 64,200 shares of the company’s stock worth $1,781,000 after acquiring an additional 8,200 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Alkermes by 11.0% during the 4th quarter. First Trust Advisors LP now owns 1,651,040 shares of the company’s stock valued at $45,800,000 after buying an additional 163,251 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Alkermes during the 4th quarter valued at about $3,923,000. Neuberger Berman Group LLC raised its stake in shares of Alkermes by 29.1% during the 4th quarter. Neuberger Berman Group LLC now owns 259,238 shares of the company’s stock valued at $7,191,000 after buying an additional 58,399 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Alkermes by 34.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 175,354 shares of the company’s stock valued at $4,865,000 after buying an additional 45,400 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of Alkermes stock opened at $28.97 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.99 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 firm has a market cap of $4.90 billion, a PE ratio of 11.45, a P/E/G ratio of 0.59 and a beta of 0.46. The business has a 50-day moving average price of $27.61 and a 200 day moving average price of $25.77.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share (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 company had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. During the same period in the previous year, the firm posted $0.38 EPS. Alkermes’s revenue was down 35.4% compared to the same quarter last year. Sell-side analysts predict that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Alkermes Company 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.