Illinois Municipal Retirement Fund Purchases New Holdings in Alkermes plc (NASDAQ:ALKS)

Illinois Municipal Retirement Fund acquired a new position in shares of Alkermes plc (NASDAQ:ALKS) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 97,420 shares of the company’s stock, valued at approximately $2,637,000. Illinois Municipal Retirement Fund owned 0.06% of Alkermes at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Alkermes during the 4th quarter worth $30,000. GAMMA Investing LLC acquired a new position in Alkermes during the fourth quarter worth about $35,000. Daiwa Securities Group Inc. grew its position in 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 buying an additional 1,100 shares during the period. CWM LLC increased its holdings in 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 buying an additional 962 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Alkermes during the 4th quarter valued at approximately $209,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $23.57 on Monday. The business’s 50-day simple moving average is $24.20 and its 200 day simple moving average is $26.31. The company has a market cap of $3.99 billion, a P/E ratio of 9.32, a PEG ratio of 0.48 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 plc has a one year low of $22.01 and a one year high of $32.88.

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 firm had revenue of $350.37 million during 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 business’s quarterly revenue 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. On average, sell-side analysts forecast that Alkermes plc will post 2.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Friday. Cantor Fitzgerald raised their price objective on shares of Alkermes from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. TD Cowen began coverage on Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 price objective for the company. HC Wainwright reiterated a “neutral” rating and set a $35.00 target price on shares of Alkermes in a report on Tuesday, June 4th. Finally, Robert W. Baird assumed coverage on Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price target for the company. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.