Diversified Trust Co Lowers Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Diversified Trust Co lowered its holdings in Alkermes plc (NASDAQ:ALKS) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,688 shares of the company’s stock after selling 3,913 shares during the period. Diversified Trust Co’s holdings in Alkermes were worth $912,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Alkermes by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock valued at $66,666,000 after purchasing an additional 90,219 shares during the period. S&CO Inc. grew its position in Alkermes by 13.2% during the fourth quarter. S&CO Inc. now owns 173,145 shares of the company’s stock valued at $4,803,000 after acquiring an additional 20,145 shares during the period. Handelsbanken Fonder AB grew its position in Alkermes by 521.3% during the fourth quarter. Handelsbanken Fonder AB now owns 175,200 shares of the company’s stock valued at $4,860,000 after acquiring an additional 147,000 shares during the period. Allspring Global Investments Holdings LLC grew its position in Alkermes by 81.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 377,489 shares of the company’s stock valued at $10,472,000 after acquiring an additional 169,385 shares during the period. Finally, RTW Investments LP grew its position in Alkermes by 338.8% during the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after acquiring an additional 3,012,450 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Alkermes from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. HC Wainwright reissued a “neutral” rating and set a $35.00 price target on shares of Alkermes in a research report on Tuesday, June 4th. Piper Sandler reissued an “overweight” rating and set a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. Cantor Fitzgerald boosted their price target on Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, Robert W. Baird began coverage on Alkermes in a research report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Alkermes Trading Up 1.2 %

Shares of NASDAQ ALKS opened at $24.39 on Tuesday. The company has a quick ratio of 2.77, a current ratio of 3.20 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $24.28 and its two-hundred day moving average price is $26.55. Alkermes plc has a 52-week low of $22.01 and a 52-week high of $32.88. The stock has a market capitalization of $4.13 billion, a P/E ratio of 9.64, a PEG ratio of 0.49 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.15). Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The firm had revenue of $350.37 million for the quarter, compared to the consensus estimate of $360.26 million. During the same quarter last year, the business earned ($0.10) earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts anticipate that Alkermes plc will post 2.27 earnings per share for the current fiscal year.

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.