LSV Asset Management Has $7.90 Million Position in Alkermes plc (NASDAQ:ALKS)

LSV Asset Management raised its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 54.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,700 shares of the company’s stock after purchasing an additional 115,300 shares during the quarter. LSV Asset Management owned approximately 0.19% of Alkermes worth $7,898,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALKS. Signaturefd LLC lifted its stake in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares during the period. CWM LLC grew its position in shares of Alkermes by 36.7% in the first quarter. CWM LLC now owns 2,732 shares of the company’s stock valued at $74,000 after purchasing an additional 733 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its stake 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 purchasing an additional 7,849 shares during the period. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Down 1.6 %

NASDAQ ALKS opened at $26.57 on Thursday. The business has a fifty day moving average price of $26.54 and a two-hundred day moving average price of $25.92. The stock has a market capitalization of $4.50 billion, a PE ratio of 10.50, a PEG ratio of 0.56 and a beta of 0.46. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. 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 (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, hitting the consensus estimate of $0.70. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The business had revenue of $399.13 million during the quarter, compared to the consensus estimate of $393.30 million. During the same period in the prior year, the company earned $0.38 EPS. Alkermes’s revenue for the quarter was down 35.4% on a year-over-year basis. Equities analysts expect that Alkermes plc will post 2.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALKS has been the subject of several recent research reports. TD Cowen assumed coverage on Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 price target for the company. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. Robert W. Baird lifted their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a report on Thursday, July 25th. Finally, HC Wainwright raised their target price 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 analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

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.