Alkermes plc (NASDAQ:ALKS) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 6.8% in the second quarter, Holdings Channel reports. The firm owned 85,023 shares of the company’s stock after acquiring an additional 5,414 shares during the period. Edgestream Partners L.P.’s holdings in Alkermes were worth $2,049,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of Alkermes by 421.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after acquiring an additional 6,730,671 shares in the last quarter. Wellington Management Group LLP boosted its position in Alkermes by 29.8% during the 4th quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock worth $422,798,000 after purchasing an additional 3,494,678 shares during the period. RTW Investments LP increased its holdings in Alkermes by 338.8% in the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after purchasing an additional 3,012,450 shares in the last quarter. Vanguard Group Inc. raised its position in Alkermes by 12.3% in the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after purchasing an additional 2,288,185 shares during the period. Finally, Norges Bank acquired a new position in shares of Alkermes during the fourth quarter worth about $55,548,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a research report on Monday. HC Wainwright boosted their target price on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. TD Cowen initiated coverage on shares of Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 target price for the company. Finally, Robert W. Baird lifted their price target on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Trading Up 1.9 %

ALKS opened at $28.35 on Friday. The stock has a market capitalization of $4.80 billion, a PE ratio of 11.21, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $32.88. The firm’s fifty day moving average price is $27.00 and its 200 day moving average price is $25.86.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The business had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.38 earnings per share. As a group, research analysts expect that Alkermes plc will post 2.36 EPS for the current fiscal year.

Alkermes Company Profile

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.