Public Sector Pension Investment Board Has $8.97 Million Stock Holdings in Alkermes plc (NASDAQ:ALKS)

Public Sector Pension Investment Board lifted its stake in Alkermes plc (NASDAQ:ALKS) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 372,317 shares of the company’s stock after acquiring an additional 30,257 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.22% of Alkermes worth $8,973,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Alkermes by 3.9% in the fourth 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 during the last quarter. S&CO Inc. boosted its holdings in Alkermes by 13.2% in 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 in the last quarter. RTW Investments LP boosted its holdings in Alkermes by 338.8% in the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock worth $108,228,000 after purchasing an additional 3,012,450 shares in the last quarter. Foundry Partners LLC bought a new stake in Alkermes in the first quarter worth $3,857,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Alkermes by 525.5% in the first quarter. Los Angeles Capital Management LLC now owns 146,381 shares of the company’s stock valued at $3,963,000 after purchasing an additional 122,980 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. TD Cowen started coverage on Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 target price on the stock. HC Wainwright lifted their target price on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.70.

Alkermes Price Performance

ALKS opened at $28.10 on Tuesday. The company has a fifty day moving average price of $27.19 and a two-hundred day moving average price of $25.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.99. Alkermes plc has a 52 week low of $22.01 and a 52 week high of $32.88. The firm has a market capitalization of $4.76 billion, a PE ratio of 11.11, a P/E/G ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, July 24th. The company reported $0.70 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 firm had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. During the same quarter in the previous year, the business earned $0.38 EPS. The business’s quarterly revenue was down 35.4% compared to the same quarter last year. As a group, analysts anticipate that Alkermes plc will post 2.36 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.