Algert Global LLC Makes New Investment in Alkermes plc (NASDAQ:ALKS)

Algert Global LLC purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,191 shares of the company’s stock, valued at approximately $390,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. EFG Asset Management North America Corp. increased its position in Alkermes by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock valued at $1,828,000 after purchasing an additional 359 shares during the period. United Services Automobile Association boosted its stake in shares of Alkermes by 3.1% during the second quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock valued at $318,000 after purchasing an additional 400 shares in the last quarter. Signaturefd LLC increased its holdings in Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the period. Fisher Asset Management LLC raised its stake in Alkermes by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 59,942 shares of the company’s stock worth $1,663,000 after buying an additional 572 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings 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 buying an additional 703 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ALKS has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. HC Wainwright boosted their price objective on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. TD Cowen assumed coverage on shares of Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a report on Monday, September 16th. Finally, Robert W. Baird increased their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Stock Down 4.1 %

Shares of ALKS stock opened at $27.79 on Tuesday. The stock’s 50-day simple moving average is $27.61 and its 200-day simple moving average is $25.76. The firm has a market capitalization of $4.70 billion, a PE ratio of 10.98, a P/E/G ratio of 0.59 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. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99.

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

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.