Alkermes plc (NASDAQ:ALKS) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in Alkermes plc (NASDAQ:ALKS) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,970 shares of the company’s stock after purchasing an additional 11,747 shares during the period. New York State Common Retirement Fund owned about 0.09% of Alkermes worth $4,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ALKS. Robeco Institutional Asset Management B.V. acquired a new stake in Alkermes in the 3rd quarter valued at about $387,000. Raymond James & Associates raised its position in Alkermes by 32.4% in the 3rd quarter. Raymond James & Associates now owns 26,592 shares of the company’s stock valued at $745,000 after purchasing an additional 6,510 shares in the last quarter. Bank of New York Mellon Corp raised its position in Alkermes by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,761,316 shares of the company’s stock valued at $77,344,000 after purchasing an additional 106,749 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Alkermes by 7.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,366 shares of the company’s stock valued at $823,000 after purchasing an additional 2,082 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Alkermes by 68.2% in the 3rd quarter. Mackenzie Financial Corp now owns 122,225 shares of the company’s stock valued at $3,403,000 after purchasing an additional 49,561 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Trading Up 0.8 %

Shares of ALKS stock opened at $24.05 on Monday. The business’s 50 day moving average is $26.73 and its two-hundred day moving average is $26.73. Alkermes plc has a twelve month low of $22.01 and a twelve month high of $33.71. The company has a market capitalization of $4.07 billion, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 0.69 and a beta of 0.61. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 0.23.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.15). Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The company had revenue of $350.37 million during the quarter, compared to analysts’ expectations of $360.26 million. During the same quarter last year, the business posted ($0.10) earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts forecast that Alkermes plc will post 2.39 EPS for the current year.

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

Analyst Ratings Changes

A number of research firms have recently commented on ALKS. HC Wainwright reiterated a “neutral” rating and issued a $35.00 price objective on shares of Alkermes in a report on Thursday. TheStreet upgraded Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. UBS Group downgraded Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price objective on the stock. in a report on Tuesday, February 20th. Piper Sandler reiterated an “overweight” rating and issued a $39.00 price objective on shares of Alkermes in a report on Monday, April 1st. Finally, Jefferies Financial Group increased their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.38.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $28.10, for a total value of $292,717.70. Following the completion of the sale, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.