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

Daiwa Securities Group Inc. increased its position in Alkermes plc (NASDAQ:ALKS) by 380.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 8,461 shares of the company’s stock after purchasing an additional 6,700 shares during the period. Daiwa Securities Group Inc.’s holdings in Alkermes were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Alkermes in the fourth quarter valued at about $30,000. GAMMA Investing LLC purchased a new position in Alkermes during the 4th quarter valued at about $35,000. CWM LLC increased its holdings in Alkermes by 92.8% during the 4th quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after purchasing an additional 962 shares during the period. Measured Wealth Private Client Group LLC bought a new position in Alkermes during the 4th quarter valued at approximately $209,000. Finally, TFO Wealth Partners LLC lifted its holdings in Alkermes by 71,354.5% in the 4th quarter. TFO Wealth Partners LLC now owns 7,860 shares of the company’s stock worth $218,000 after buying an additional 7,849 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Robert W. Baird assumed coverage on Alkermes in a report on Tuesday, March 19th. They set an “outperform” rating and a $37.00 target price for the company. Jefferies Financial Group upped their price objective on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. TD Cowen assumed coverage on shares of Alkermes in a research note on Monday, June 17th. They set a “buy” rating and a $34.00 target price on the stock. Piper Sandler reissued an “overweight” rating and issued a $39.00 price target on shares of Alkermes in a research note on Monday, April 1st. Finally, Cantor Fitzgerald lifted their price objective on Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $23.57 on Friday. The company has a 50 day simple moving average of $24.20 and a two-hundred day simple moving average of $26.34. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 0.46 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.77 and a current ratio of 3.20.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.15). The company had revenue of $350.37 million during the quarter, compared to analysts’ expectations of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS. Analysts expect that Alkermes plc will post 2.27 EPS 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.