Advisors Asset Management Inc. purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS – Get Rating) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 18,852 shares of the company’s stock, valued at approximately $562,000.
Other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Alkermes by 100.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock valued at $26,000 after buying an additional 500 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of Alkermes during the 2nd quarter valued at about $30,000. Exchange Traded Concepts LLC lifted its holdings in shares of Alkermes by 132.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,506 shares of the company’s stock valued at $45,000 after buying an additional 857 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Alkermes during the 1st quarter valued at about $72,000. Finally, Captrust Financial Advisors raised its stake in shares of Alkermes by 1,260.9% in the 1st quarter. Captrust Financial Advisors now owns 6,954 shares of the company’s stock valued at $183,000 after acquiring an additional 6,443 shares in the last quarter. 94.77% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on Alkermes to $28.00 in a research note on Wednesday, July 27th. Mizuho cut their price objective on Alkermes from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Bank of America raised Alkermes from an “underperform” rating to a “neutral” rating and cut their price objective for the company from $27.00 to $25.00 in a research note on Friday, October 14th. Piper Sandler raised Alkermes from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $26.00 to $30.00 in a research note on Thursday, November 3rd. Finally, StockNews.com downgraded Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.67.
Alkermes Stock Performance
Alkermes (NASDAQ:ALKS – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The firm had revenue of $252.36 million for the quarter, compared to the consensus estimate of $271.45 million. Alkermes had a negative net margin of 11.41% and a negative return on equity of 1.10%. The business’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. On average, equities analysts expect that Alkermes plc will post -0.32 EPS for the current year.
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.
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