WINTON GROUP Ltd Acquires Shares of 10,369 Alkermes plc (NASDAQ:ALKS)

WINTON GROUP Ltd acquired a new stake in shares of Alkermes plc (NASDAQ:ALKSGet Rating) during the second quarter, HoldingsChannel reports. The fund acquired 10,369 shares of the company’s stock, valued at approximately $309,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pictet Asset Management SA increased its position in Alkermes by 4.0% during the 2nd quarter. Pictet Asset Management SA now owns 484,515 shares of the company’s stock valued at $14,434,000 after purchasing an additional 18,707 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of Alkermes during the 2nd quarter valued at $562,000. Walleye Capital LLC bought a new stake in shares of Alkermes during the 2nd quarter valued at $2,572,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Alkermes during the 2nd quarter valued at $336,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alkermes during the 2nd quarter valued at $5,003,000. 94.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on ALKS shares. Piper Sandler upgraded shares of Alkermes from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $26.00 to $30.00 in a report on Thursday, November 3rd. Mizuho dropped their target price on shares of Alkermes from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Bank of America upgraded shares of Alkermes from an “underperform” rating to a “neutral” rating and dropped their price target for the stock from $27.00 to $25.00 in a research note on Friday, October 14th. StockNews.com cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 2nd. Finally, Stifel Nicolaus upped their price target on shares of Alkermes to $28.00 in a research note on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.67.

Alkermes Price Performance

ALKS opened at $23.44 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.89 and a current ratio of 2.24. The stock has a market capitalization of $3.85 billion, a P/E ratio of -30.05 and a beta of 0.60. The company’s 50-day simple moving average is $22.93 and its two-hundred day simple moving average is $26.03. Alkermes plc has a 52-week low of $21.24 and a 52-week high of $32.79.

Alkermes (NASDAQ:ALKSGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Alkermes had a negative net margin of 11.41% and a negative return on equity of 1.10%. The business had revenue of $252.36 million for the quarter, compared to analysts’ expectations of $271.45 million. During the same period in the previous year, the company earned ($0.02) EPS. Alkermes’s revenue for the quarter was down 14.2% compared to the same quarter last year. As a group, analysts predict that Alkermes plc will post -0.32 EPS for the current year.

Alkermes Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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