Harbor Capital Advisors Inc. Sells 1,593 Shares of Alkermes plc (NASDAQ:ALKS)

Harbor Capital Advisors Inc. decreased its position in Alkermes plc (NASDAQ:ALKSFree Report) by 13.9% during the 4th quarter, Holdings Channel reports. The firm owned 9,903 shares of the company’s stock after selling 1,593 shares during the period. Harbor Capital Advisors Inc.’s holdings in Alkermes were worth $275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its stake in Alkermes by 4.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 9,936 shares of the company’s stock worth $311,000 after acquiring an additional 393 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Alkermes by 6.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,830 shares of the company’s stock valued at $219,000 after buying an additional 452 shares during the period. Victory Capital Management Inc. lifted its position in Alkermes by 0.6% during the third quarter. Victory Capital Management Inc. now owns 76,043 shares of the company’s stock valued at $2,130,000 after buying an additional 481 shares during the period. Alliancebernstein L.P. lifted its position in Alkermes by 0.3% during the fourth quarter. Alliancebernstein L.P. now owns 195,581 shares of the company’s stock valued at $5,111,000 after buying an additional 500 shares during the period. Finally, Alps Advisors Inc. lifted its position in Alkermes by 0.4% during the third quarter. Alps Advisors Inc. now owns 122,916 shares of the company’s stock valued at $3,443,000 after buying an additional 529 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

ALKS has been the subject of several recent research reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $33.00 price objective on shares of Alkermes in a research report on Monday, November 20th. UBS Group lowered Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price objective for the company. in a research report on Tuesday, February 20th. Piper Sandler raised their price objective on Alkermes from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. TheStreet raised Alkermes from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Finally, Bank of America raised their price objective on Alkermes from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.50.

Check Out Our Latest Analysis on ALKS

Alkermes Price Performance

ALKS opened at $28.75 on Friday. The stock has a 50-day moving average price of $28.65 and a 200-day moving average price of $27.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50. The firm has a market cap of $4.80 billion, a PE ratio of 13.89 and a beta of 0.57. Alkermes plc has a 1 year low of $22.01 and a 1 year high of $33.71.

Alkermes (NASDAQ:ALKSGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.29). Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The business had revenue of $377.50 million during the quarter, compared to the consensus estimate of $362.78 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Alkermes’s quarterly revenue was up 23.9% compared to the same quarter last year. Sell-side analysts predict that Alkermes plc will post 2.24 earnings per share for the current fiscal year.

Alkermes announced that its board has approved a stock repurchase program on Thursday, February 15th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Alkermes Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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