Arizona State Retirement System Has $1.08 Million Position in Alkermes plc (NASDAQ:ALKS)

Arizona State Retirement System grew its position in Alkermes plc (NASDAQ:ALKS) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,995 shares of the company’s stock after purchasing an additional 1,510 shares during the period. Arizona State Retirement System’s holdings in Alkermes were worth $1,084,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALKS. Signaturefd LLC raised its stake in 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 period. Hexagon Capital Partners LLC raised its position 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 purchasing an additional 1,498 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares in the last quarter. CWM LLC increased its stake in Alkermes by 36.7% during the 1st quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after purchasing an additional 733 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its stake in Alkermes by 71,354.5% during the 4th 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 in the last quarter. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Up 4.1 %

NASDAQ:ALKS opened at $27.66 on Friday. Alkermes plc has a twelve month low of $22.01 and a twelve month high of $32.88. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. 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 $26.66 and its two-hundred day moving average price is $25.91.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $393.30 million. During the same period last year, the business earned $0.38 earnings per share. The firm’s revenue was down 35.4% on a year-over-year basis. Equities research analysts expect that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALKS has been the subject of several research analyst reports. JPMorgan Chase & Co. upped 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. Robert W. Baird upped their target price 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 target on shares of Alkermes in a research note on Thursday, July 25th. HC Wainwright boosted their price target on Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, TD Cowen assumed coverage on Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and an average price target of $36.70.

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.