AQR Capital Management LLC Buys 379,240 Shares of Alkermes plc (NASDAQ:ALKS)

AQR Capital Management LLC raised its stake in shares of Alkermes plc (NASDAQ:ALKS) by 89.4% in the second quarter, Holdings Channel reports. The fund owned 803,504 shares of the company’s stock after acquiring an additional 379,240 shares during the period. AQR Capital Management LLC’s holdings in Alkermes were worth $19,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in 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 buying an additional 1,498 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Alkermes by 44.4% during 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 raised 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 valued at $74,000 after acquiring an additional 733 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes in the 2nd quarter worth approximately $116,000. 95.21% of the stock is owned by institutional investors.

Alkermes Trading Up 1.7 %

ALKS opened at $27.99 on Tuesday. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth 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 firm has a 50 day simple moving average of $27.39 and a 200 day simple moving average of $25.74.

Alkermes (NASDAQ:ALKS) last issued its earnings results 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 company had revenue of $399.13 million during the quarter, compared to analysts’ expectations of $393.30 million. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s revenue for the quarter was down 35.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alkermes plc will post 2.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. HC Wainwright lifted their price objective on Alkermes from $35.00 to $37.00 and gave the company 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. Robert W. Baird raised their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research report on Monday, September 16th. Finally, TD Cowen assumed coverage on shares of Alkermes in a research note on Monday, June 17th. They set a “buy” rating and a $34.00 price target on the stock. One investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.70.

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.