Mutual of America Capital Management LLC Has $3.33 Million Position in Alkermes plc (NASDAQ:ALKS)

Mutual of America Capital Management LLC raised its position in shares of Alkermes plc (NASDAQ:ALKS) by 87.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,976 shares of the company’s stock after purchasing an additional 56,141 shares during the quarter. Mutual of America Capital Management LLC owned 0.07% of Alkermes worth $3,328,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Emerald Advisers LLC acquired a new stake in Alkermes during the 3rd quarter valued at $27,000. Neo Ivy Capital Management acquired a new stake in Alkermes during the 2nd quarter valued at $27,000. CWM LLC increased its stake in shares of Alkermes by 147.5% in the third quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after acquiring an additional 618 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Alkermes in the fourth quarter worth $30,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in shares of Alkermes in the third quarter worth $37,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALKS has been the topic of a number of research reports. StockNews.com downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Alkermes in a research note on Monday, April 1st. Jefferies Financial Group upped their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price target on the stock. in a research note on Tuesday, February 20th. Finally, TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

Alkermes Stock Up 1.0 %

ALKS stock opened at $24.01 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50. Alkermes plc has a 52-week low of $22.01 and a 52-week high of $33.71. The company has a 50-day moving average of $27.96 and a two-hundred day moving average of $27.05. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.66 and a beta of 0.55.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.29). Alkermes had a net margin of 21.39% and a return on equity of 16.10%. The firm had revenue of $377.50 million for the quarter, compared to the consensus estimate of $362.78 million. During the same quarter last year, the company earned ($0.02) earnings per share. The firm’s revenue was up 23.9% on a year-over-year basis. As a group, equities research analysts anticipate that Alkermes plc will post 2.23 EPS for the current year.

Alkermes declared that its Board of Directors has approved a share buyback plan on Thursday, February 15th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total transaction of $292,717.70. Following the completion of the sale, the senior vice president now directly owns 65,911 shares in the company, valued at $1,852,099.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.76% of the company’s stock.

About Alkermes

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.