Guidance Capital Inc. Boosts Position in Alkermes plc (NASDAQ:ALKS)

Guidance Capital Inc. raised its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 12.3% during the second quarter, HoldingsChannel reports. The firm owned 17,767 shares of the company’s stock after purchasing an additional 1,941 shares during the period. Guidance Capital Inc.’s holdings in Alkermes were worth $428,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Alkermes by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock valued at $66,666,000 after purchasing an additional 90,219 shares during the period. S&CO Inc. boosted its holdings in shares of Alkermes by 13.2% in the 4th quarter. S&CO Inc. now owns 173,145 shares of the company’s stock valued at $4,803,000 after buying an additional 20,145 shares in the last quarter. RTW Investments LP boosted its holdings in shares of Alkermes by 338.8% in the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock valued at $108,228,000 after buying an additional 3,012,450 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Alkermes in the 1st quarter valued at about $3,857,000. Finally, Los Angeles Capital Management LLC boosted its holdings in shares of Alkermes by 525.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 146,381 shares of the company’s stock valued at $3,963,000 after buying an additional 122,980 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $28.45 on Tuesday. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $32.88. The company has a 50 day simple moving average of $26.06 and a two-hundred day simple moving average of $26.08. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 0.59 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS 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 in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was down 35.4% compared to the same quarter last year. As a group, analysts predict that Alkermes plc will post 2.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a report on Thursday, July 25th. StockNews.com upgraded shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Robert W. Baird raised their price target on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. TD Cowen assumed coverage on shares of Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, HC Wainwright raised their price target on shares of Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average target price 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.