Armistice Capital LLC Has $65.05 Million Position in Alkermes plc (NASDAQ:ALKS)

Armistice Capital LLC raised its position in Alkermes plc (NASDAQ:ALKS) by 301.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,699,179 shares of the company’s stock after buying an additional 2,026,961 shares during the period. Alkermes makes up 0.8% of Armistice Capital LLC’s portfolio, making the stock its 11th biggest holding. Armistice Capital LLC’s holdings in Alkermes were worth $65,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALKS. Affinity Asset Advisors LLC raised its holdings in Alkermes by 766.7% in the 2nd quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock valued at $15,665,000 after buying an additional 575,000 shares during the last quarter. Bank of Montreal Can increased its position in Alkermes by 111.4% in the 2nd quarter. Bank of Montreal Can now owns 47,756 shares of the company’s stock valued at $1,158,000 after acquiring an additional 25,162 shares during the period. Public Sector Pension Investment Board increased its position in Alkermes by 8.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 372,317 shares of the company’s stock valued at $8,973,000 after acquiring an additional 30,257 shares during the period. Profund Advisors LLC raised its stake in shares of Alkermes by 5.3% during the second quarter. Profund Advisors LLC now owns 59,869 shares of the company’s stock valued at $1,443,000 after acquiring an additional 3,021 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Alkermes by 31.8% during the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after purchasing an additional 1,362,079 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Trading Down 3.4 %

ALKS opened at $26.43 on Thursday. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The firm has a market capitalization of $4.47 billion, a PE ratio of 10.45, a P/E/G ratio of 0.59 and a beta of 0.46. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The company’s 50-day moving average is $27.28 and its 200 day moving average is $25.78.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on ALKS shares. TD Cowen initiated coverage on Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 price objective for the company. Robert W. Baird upped their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. HC Wainwright raised their price objective on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a report on Monday, September 16th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.70.

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.