Alkermes plc (NASDAQ:ALKS) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in shares of Alkermes plc (NASDAQ:ALKS) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,817 shares of the company’s stock after purchasing an additional 1,840 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Alkermes were worth $1,321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ALKS. Signaturefd LLC lifted its position in Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC lifted its position in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after purchasing an additional 703 shares in the last quarter. CWM LLC boosted its stake in shares of Alkermes by 36.7% in the first quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after purchasing an additional 733 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes during the 2nd quarter valued at $116,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analysts Set New Price Targets

ALKS has been the subject of a number of analyst reports. Robert W. Baird upped their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. HC Wainwright raised their price objective on Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a research report on Monday, September 16th. TD Cowen assumed coverage on shares of Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average price target of $36.70.

Alkermes Trading Up 0.7 %

NASDAQ ALKS opened at $28.55 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. Alkermes plc has a one year low of $22.01 and a one year high of $32.88. The company has a 50-day simple moving average of $27.10 and a 200-day simple moving average of $25.80. The firm has a market capitalization of $4.83 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. The company had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. Alkermes’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, equities analysts forecast that Alkermes plc will post 2.36 earnings per share for the current 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.