Measured Wealth Private Client Group LLC Raises Stock Position in Alkermes plc (NASDAQ:ALKS)

Measured Wealth Private Client Group LLC raised its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 28.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,682 shares of the company’s stock after acquiring an additional 2,148 shares during the period. Measured Wealth Private Client Group LLC’s holdings in Alkermes were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new stake in Alkermes during the fourth quarter valued at approximately $30,000. GAMMA Investing LLC bought a new position in shares of Alkermes in the fourth quarter worth about $35,000. Daiwa Securities Group Inc. boosted its stake in Alkermes by 166.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after purchasing an additional 1,100 shares during the period. CWM LLC grew its holdings in Alkermes by 92.8% in the 4th quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after buying an additional 962 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of 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 buying an additional 7,849 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Trading Down 0.8 %

NASDAQ:ALKS opened at $24.19 on Wednesday. The company has a current ratio of 3.20, a quick ratio of 2.77 and a debt-to-equity ratio of 0.23. Alkermes plc has a 1-year low of $22.01 and a 1-year high of $32.88. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.49 and a beta of 0.47. The business’s 50-day moving average price is $24.28 and its two-hundred day moving average price is $26.53.

Alkermes (NASDAQ:ALKS) last posted 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). The firm had revenue of $350.37 million during 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%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) earnings per share. On average, equities analysts expect that Alkermes plc will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.