Mackenzie Financial Corp Sells 6,308 Shares of Alkermes plc (NASDAQ:ALKS)

Mackenzie Financial Corp reduced its position in Alkermes plc (NASDAQ:ALKS) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 261,404 shares of the company’s stock after selling 6,308 shares during the period. Mackenzie Financial Corp owned approximately 0.15% of Alkermes worth $6,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. TD Asset Management Inc boosted its position in Alkermes by 14.6% in the fourth quarter. TD Asset Management Inc now owns 64,200 shares of the company’s stock worth $1,781,000 after purchasing an additional 8,200 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in shares of 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 purchasing an additional 7,849 shares during the period. Rafferty Asset Management LLC boosted its holdings in shares of Alkermes by 12.5% in the fourth quarter. Rafferty Asset Management LLC now owns 347,177 shares of the company’s stock worth $9,631,000 after buying an additional 38,632 shares during the last quarter. First Trust Advisors LP grew its position in Alkermes by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,651,040 shares of the company’s stock valued at $45,800,000 after buying an additional 163,251 shares during the period. Finally, RTW Investments LP increased its holdings in Alkermes by 338.8% during the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after buying an additional 3,012,450 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

ALKS has been the subject of several analyst reports. HC Wainwright upped their price objective on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. JPMorgan Chase & Co. boosted their price objective on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. TD Cowen initiated 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. Finally, Robert W. Baird upped their price target on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.70.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $27.99 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.59 and a beta of 0.46. The firm has a fifty day moving average price of $27.39 and a 200 day moving average price of $25.74. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The business’s revenue was down 35.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. As a group, sell-side analysts expect that Alkermes plc will post 2.36 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.