Alkermes plc (NASDAQ:ALKS) Stake Boosted by TD Asset Management Inc

TD Asset Management Inc raised its position in shares of Alkermes plc (NASDAQ:ALKS) by 13.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 397,592 shares of the company’s stock after buying an additional 48,600 shares during the quarter. TD Asset Management Inc owned 0.24% of Alkermes worth $9,582,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALKS. Dimensional Fund Advisors LP lifted its stake in Alkermes by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock worth $66,666,000 after acquiring an additional 90,219 shares in the last quarter. S&CO Inc. boosted its holdings in shares of Alkermes by 13.2% during the fourth quarter. S&CO Inc. now owns 173,145 shares of the company’s stock worth $4,803,000 after purchasing an additional 20,145 shares during the period. 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 purchasing an additional 3,012,450 shares in the last quarter. Foundry Partners LLC acquired a new position in Alkermes in the 1st quarter valued at approximately $3,857,000. Finally, Los Angeles Capital Management LLC lifted its position in Alkermes by 525.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 146,381 shares of the company’s stock worth $3,963,000 after buying an additional 122,980 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of research reports. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Alkermes in a research report on Thursday, July 25th. Robert W. Baird boosted their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, HC Wainwright upped their price objective on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.70.

Alkermes Stock Performance

ALKS opened at $26.99 on Wednesday. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The stock’s 50 day moving average price is $26.50 and its two-hundred day moving average price is $25.92. The firm has a market capitalization of $4.44 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $32.88.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.70. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The business had revenue of $399.13 million for the quarter, compared to analyst estimates of $393.30 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Alkermes’s revenue was down 35.4% compared to the same quarter last year. On average, equities analysts forecast that Alkermes plc will post 2.37 earnings per share for the current year.

Alkermes 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.