Alkermes plc (NASDAQ:ALKS) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its holdings in Alkermes plc (NASDAQ:ALKS) by 4.9% during the second quarter, HoldingsChannel reports. 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 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ALKS. Signaturefd LLC lifted its holdings 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 acquiring an additional 480 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after acquiring an additional 1,498 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after acquiring an additional 703 shares during the last quarter. CWM LLC lifted its holdings 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 acquired a new position in Alkermes in the second quarter valued at approximately $116,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Stock Up 2.1 %

Alkermes stock opened at $28.97 on Friday. Alkermes plc has a twelve month low of $22.01 and a twelve month high of $32.88. The stock’s fifty day simple moving average is $27.61 and its 200-day simple moving average is $25.77. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $4.90 billion, a P/E ratio of 11.45, a P/E/G ratio of 0.59 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The firm had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company’s revenue was down 35.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. As a group, equities analysts expect that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. TD Cowen started coverage on Alkermes in a research report on Monday, June 17th. They issued a “buy” rating and a $34.00 target price on the stock. Robert W. Baird boosted their target price on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a research report on Monday, September 16th. Finally, HC Wainwright boosted their target price on Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.70.

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.