Alkermes plc (NASDAQ:ALKS) Shares Purchased by RTW Investments LP

RTW Investments LP increased its position in shares of Alkermes plc (NASDAQ:ALKSFree Report) by 338.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,901,523 shares of the company’s stock after acquiring an additional 3,012,450 shares during the quarter. Alkermes makes up approximately 1.7% of RTW Investments LP’s holdings, making the stock its 22nd biggest holding. RTW Investments LP owned approximately 2.34% of Alkermes worth $108,228,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in Alkermes by 11.0% during the fourth quarter. First Trust Advisors LP now owns 1,651,040 shares of the company’s stock worth $45,800,000 after acquiring an additional 163,251 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Alkermes by 12.5% during the fourth quarter. Rafferty Asset Management LLC now owns 347,177 shares of the company’s stock worth $9,631,000 after purchasing an additional 38,632 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Alkermes during the fourth quarter worth approximately $2,307,000. TFO Wealth Partners LLC raised its stake in Alkermes by 71,354.5% during the fourth quarter. TFO Wealth Partners LLC now owns 7,860 shares of the company’s stock worth $218,000 after purchasing an additional 7,849 shares during the period. Finally, TD Asset Management Inc raised its stake in Alkermes by 14.6% during the fourth quarter. TD Asset Management Inc now owns 64,200 shares of the company’s stock worth $1,781,000 after purchasing an additional 8,200 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Down 1.0 %

ALKS traded down $0.25 during trading hours on Friday, reaching $23.91. 1,303,566 shares of the stock traded hands, compared to its average volume of 1,845,275. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.49 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $33.71. The firm’s fifty day simple moving average is $24.50 and its two-hundred day simple moving average is $26.61.

Alkermes (NASDAQ:ALKSGet Free Report) last announced its quarterly earnings data 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). The company had revenue of $350.37 million for the quarter, compared to analyst estimates of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. Alkermes’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. As a group, analysts forecast that Alkermes plc will post 2.27 earnings per share for the current fiscal year.

Alkermes announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 15th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the company to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.89% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald increased their price target 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. Jefferies Financial Group raised their target price on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler reissued an “overweight” rating and issued a $39.00 target price on shares of Alkermes in a research note on Monday, April 1st. HC Wainwright reissued a “neutral” rating and issued a $35.00 target price on shares of Alkermes in a research note on Tuesday. Finally, TheStreet raised shares of Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Alkermes currently has a consensus rating of “Hold” and a consensus target price of $36.78.

View Our Latest Analysis on Alkermes

About Alkermes

(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.

See Also

Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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