Alkermes plc (NASDAQ:ALKS) Position Increased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its position in Alkermes plc (NASDAQ:ALKS) by 10.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 244,857 shares of the company’s stock after acquiring an additional 23,600 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Alkermes were worth $5,901,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ALKS. EFG Asset Management North America Corp. lifted its position in shares of Alkermes by 0.5% in the second quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock worth $1,828,000 after purchasing an additional 359 shares in the last quarter. United Services Automobile Association lifted its position in Alkermes by 3.1% in the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock worth $318,000 after buying an additional 400 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Alkermes by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 59,942 shares of the company’s stock valued at $1,663,000 after acquiring an additional 572 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after acquiring an additional 703 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALKS. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price target on shares of Alkermes in a research note on Monday, September 16th. 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. JPMorgan Chase & Co. boosted their target price 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. Finally, TD Cowen began coverage on shares of Alkermes in a report on Monday, June 17th. They set a “buy” rating and a $34.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $36.70.

Alkermes Price Performance

NASDAQ ALKS opened at $29.00 on Thursday. Alkermes plc has a 1 year low of $22.01 and a 1 year high of $32.88. The company has a fifty day simple moving average of $27.58 and a 200 day simple moving average of $25.76. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $4.91 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.59 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.70. The company had revenue of $399.13 million during the quarter, compared to analysts’ expectations of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The business’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. On average, sell-side analysts predict that Alkermes plc will post 2.36 EPS for the current 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.