Credit Suisse AG Buys 4,230 Shares of Alkermes plc (NASDAQ:ALKS)

Credit Suisse AG boosted its stake in shares of Alkermes plc (NASDAQ:ALKS – Get Rating) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,635 shares of the company’s stock after buying an additional 4,230 shares during the quarter. Credit Suisse AG’s holdings in Alkermes were worth $4,012,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Arizona State Retirement System grew its position in Alkermes by 1.2% during the 3rd quarter. Arizona State Retirement System now owns 44,411 shares of the company’s stock worth $992,000 after purchasing an additional 517 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Alkermes by 2.0% in the 3rd quarter. ProShare Advisors LLC now owns 34,408 shares of the company’s stock valued at $768,000 after purchasing an additional 684 shares during the period. Xponance Inc. lifted its stake in shares of Alkermes by 7.9% in the 3rd quarter. Xponance Inc. now owns 9,737 shares of the company’s stock valued at $217,000 after purchasing an additional 711 shares during the period. Nicollet Investment Management Inc. lifted its stake in shares of Alkermes by 3.1% in the 3rd quarter. Nicollet Investment Management Inc. now owns 27,265 shares of the company’s stock valued at $609,000 after purchasing an additional 830 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in shares of Alkermes in the 2nd quarter valued at $27,000. Institutional investors own 96.15% of the company’s stock.

Alkermes Stock Down 1.7 %

ALKS stock opened at $26.74 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.91 and a debt-to-equity ratio of 0.28. Alkermes plc has a twelve month low of $21.75 and a twelve month high of $32.79. The company’s 50 day moving average is $27.15 and its two-hundred day moving average is $24.99. The stock has a market cap of $4.40 billion, a P/E ratio of -27.85 and a beta of 0.59.

Alkermes (NASDAQ:ALKS – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.09. Alkermes had a negative net margin of 14.23% and a negative return on equity of 3.32%. The company had revenue of $304.70 million for the quarter, compared to analysts’ expectations of $289.80 million. During the same quarter last year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Research analysts expect that Alkermes plc will post -0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALKS. Stifel Nicolaus boosted their target price on shares of Alkermes to $30.00 in a research note on Thursday, February 16th. HC Wainwright reiterated a “neutral” rating and issued a $32.00 target price on shares of Alkermes in a research report on Friday, February 17th. StockNews.com lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 2nd. JPMorgan Chase & Co. lowered their target price on shares of Alkermes from $33.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, December 6th. Finally, Bank of America raised their price objective on shares of Alkermes from $27.00 to $28.00 in a research note on Sunday, January 8th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkermes presently has a consensus rating of “Hold” and a consensus target price of $30.11.

Alkermes Profile

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Alkermes Plc is a global biopharmaceutical company. It is engaged in the business of developing, manufacturing, and commercializing medicines designed to address unmet medical needs of patients in major therapeutic areas. Its proprietary products include ARISTADA, ARISTADA INITIO, LYBALVI, and VIVITROL.