Vanguard Group Inc. Grows Position in Alkermes plc (NASDAQ:ALKS)

Vanguard Group Inc. grew its stake in shares of Alkermes plc (NASDAQ:ALKS) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,955,454 shares of the company’s stock after buying an additional 2,288,185 shares during the period. Vanguard Group Inc. owned 0.13% of Alkermes worth $581,304,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ALKS. McGlone Suttner Wealth Management Inc. purchased a new position in Alkermes during the fourth quarter worth $30,000. GAMMA Investing LLC acquired a new stake in shares of Alkermes during the fourth quarter worth $35,000. Daiwa Securities Group Inc. boosted its holdings in shares of Alkermes by 166.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock worth $49,000 after purchasing an additional 1,100 shares during the last quarter. CWM LLC boosted its holdings in shares of Alkermes by 92.8% during the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock worth $55,000 after purchasing an additional 962 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Alkermes during the fourth quarter worth $209,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALKS shares. Robert W. Baird started coverage on Alkermes in a report on Tuesday, March 19th. They set an “outperform” rating and a $37.00 price objective on the stock. Cantor Fitzgerald raised their price objective on Alkermes from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. TD Cowen assumed coverage on Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 target price on the stock. StockNews.com cut Alkermes from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. Finally, HC Wainwright reiterated a “neutral” rating and issued a $35.00 target price on shares of Alkermes in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.50.

Alkermes Trading Down 1.3 %

Shares of ALKS opened at $24.63 on Tuesday. The stock’s 50-day moving average is $24.24 and its two-hundred day moving average is $26.63. The stock has a market cap of $4.17 billion, a PE ratio of 9.74, a P/E/G ratio of 0.50 and a beta of 0.47. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $33.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). The company had revenue of $350.37 million for the quarter, compared to analyst estimates of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.10) EPS. Equities analysts forecast that Alkermes plc will post 2.27 earnings per share for the current fiscal 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.