Alkermes plc (NASDAQ:ALKS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,697 shares of the company’s stock after selling 7,279 shares during the period. Mutual of America Capital Management LLC’s holdings in Alkermes were worth $3,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Alkermes during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC purchased a new position in Alkermes during the 4th quarter worth approximately $35,000. Daiwa Securities Group Inc. raised its stake in Alkermes by 166.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after purchasing an additional 1,100 shares during the period. CWM LLC lifted its holdings in shares of Alkermes by 92.8% in the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after purchasing an additional 962 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of Alkermes in the fourth quarter valued at $209,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Price Performance

Shares of ALKS stock opened at $23.31 on Friday. The stock has a 50 day moving average of $24.21 and a two-hundred day moving average of $26.37. The company has a current ratio of 3.20, a quick ratio of 2.77 and a debt-to-equity ratio of 0.23. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $32.88. The company has a market capitalization of $3.94 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.49 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last issued its earnings results 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 return on equity of 20.31% and a net margin of 25.17%. The company had revenue of $350.37 million during the quarter, compared to analyst estimates of $360.26 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts expect that Alkermes plc will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. StockNews.com lowered Alkermes from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Cantor Fitzgerald upped their price target on Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. TD Cowen assumed coverage on Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 price target on the stock. Finally, HC Wainwright reissued a “neutral” rating and set a $35.00 price target on shares of Alkermes in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.50.

About Alkermes

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.