Handelsinvest Investeringsforvaltning Reduces Stock Position in Alkermes plc (NASDAQ:ALKS)

Handelsinvest Investeringsforvaltning lowered its stake in shares of Alkermes plc (NASDAQ:ALKS) by 34.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,284 shares of the company’s stock after selling 3,262 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Alkermes were worth $170,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Alkermes during the fourth quarter worth $30,000. GAMMA Investing LLC purchased a new stake in shares of Alkermes during the fourth quarter worth $35,000. Daiwa Securities Group Inc. lifted its position 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 acquiring an additional 1,100 shares in the last quarter. CWM LLC lifted its position 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 acquiring an additional 962 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased 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

A number of equities research analysts recently issued reports on ALKS shares. Jefferies Financial Group increased their price objective on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Robert W. Baird started coverage on Alkermes in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price objective on the stock. HC Wainwright reiterated a “neutral” rating and issued a $35.00 price objective on shares of Alkermes in a research report on Tuesday, June 4th. Cantor Fitzgerald increased their price objective on Alkermes from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, StockNews.com downgraded Alkermes from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

Alkermes Stock Up 0.2 %

ALKS opened at $24.23 on Thursday. The stock has a market cap of $4.10 billion, a PE ratio of 9.58, a P/E/G ratio of 0.49 and a beta of 0.47. The company has a quick ratio of 2.77, a current ratio of 3.20 and a debt-to-equity ratio of 0.23. Alkermes plc has a 52 week low of $22.01 and a 52 week high of $32.88. The business’s fifty day simple moving average is $24.27 and its 200 day simple moving average is $26.51.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The company had revenue of $350.37 million for the quarter, compared to the consensus estimate of $360.26 million. During the same period last year, the business posted ($0.10) earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts expect that Alkermes plc will post 2.27 earnings per share 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.