Janney Montgomery Scott LLC Invests $927,000 in Alkermes plc (NASDAQ:ALKS)

Janney Montgomery Scott LLC bought a new position in Alkermes plc (NASDAQ:ALKSFree Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,410 shares of the company’s stock, valued at approximately $927,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. bought a new position in Alkermes during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC purchased a new stake in Alkermes during the fourth quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. purchased a new stake in Alkermes during the third quarter valued at approximately $37,000. Daiwa Securities Group Inc. increased its holdings in Alkermes by 166.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after buying an additional 1,100 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Alkermes during the third quarter valued at approximately $53,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $23.21 on Friday. The firm has a market cap of $3.93 billion, a PE ratio of 9.17, a PEG ratio of 0.48 and a beta of 0.61. The firm has a fifty day moving average of $24.89 and a 200 day moving average of $26.62. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.77 and a current ratio of 3.20. Alkermes plc has a one year low of $22.01 and a one year high of $33.71.

Alkermes (NASDAQ:ALKSGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The business had revenue of $350.37 million for the quarter, compared to analysts’ expectations of $360.26 million. During the same period in the previous year, the company earned ($0.10) EPS. Alkermes’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts predict that Alkermes plc will post 2.27 EPS for the current fiscal year.

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

Insider Activity 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 value of $292,717.70. Following the transaction, the senior vice president now owns 65,911 shares of the company’s stock, valued at $1,852,099.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Piper Sandler reissued an “overweight” rating and issued a $39.00 price objective on shares of Alkermes in a research note on Monday, April 1st. UBS Group cut shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price objective for the company. in a research note on Tuesday, February 20th. Jefferies Financial Group increased their price objective 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. Finally, Cantor Fitzgerald increased their price objective on shares of Alkermes from $43.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Hold” and an average price target of $36.78.

View Our Latest Report on Alkermes

Alkermes 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.

Featured Articles

Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

Receive News & Ratings for Alkermes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alkermes and related companies with MarketBeat.com's FREE daily email newsletter.