Natixis Advisors LLC Decreases Stake in Alkermes plc (NASDAQ:ALKS)

Natixis Advisors LLC reduced its holdings in Alkermes plc (NASDAQ:ALKS) by 79.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 12,569 shares of the company’s stock after selling 47,708 shares during the period. Natixis Advisors LLC’s holdings in Alkermes were worth $303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after buying an additional 480 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after buying an additional 1,498 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after buying an additional 703 shares in the last quarter. CWM LLC lifted its stake in shares of Alkermes by 36.7% in the first quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after buying an additional 733 shares in the last quarter. Finally, TFO Wealth Partners LLC increased its position in 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 last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ALKS shares. TD Cowen began coverage on shares of Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price objective on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Finally, HC Wainwright boosted their price objective on shares of Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. One equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.70.

Alkermes Price Performance

NASDAQ:ALKS opened at $27.66 on Friday. The business’s 50-day moving average price is $26.66 and its 200 day moving average price is $25.91. The firm has a market cap of $4.55 billion, a P/E ratio of 10.93, a PEG ratio of 0.56 and a beta of 0.46. Alkermes plc has a 52-week low of $22.01 and a 52-week high of $32.88. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting analysts’ consensus estimates of $0.70. The firm had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The business’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. As a group, sell-side analysts predict that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

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.