Quantedge Capital Pte Ltd Takes Position in Alkermes plc (NASDAQ:ALKS)

Quantedge Capital Pte Ltd acquired a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 57,900 shares of the company's stock, valued at approximately $1,665,000.

A number of other large investors also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Alkermes by 108.8% during the 3rd quarter. Barclays PLC now owns 423,931 shares of the company's stock worth $11,867,000 after buying an additional 220,893 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Alkermes by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 120,006 shares of the company's stock worth $3,486,000 after buying an additional 2,903 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Alkermes by 1.3% in the fourth quarter. Wedge Capital Management L L P NC now owns 111,909 shares of the company's stock worth $3,219,000 after buying an additional 1,455 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Alkermes by 2.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 93,532 shares of the company's stock worth $2,690,000 after purchasing an additional 2,373 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Alkermes by 3.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company's stock worth $890,000 after purchasing an additional 897 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Price Performance

ALKS traded up $0.02 during trading on Tuesday, hitting $31.47. 199,063 shares of the stock traded hands, compared to its average volume of 1,754,777. The business has a 50 day moving average price of $30.52 and a 200 day moving average price of $30.77. The company has a market cap of $5.19 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 2.20 and a beta of 0.51. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.19). The firm had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The company's revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, equities research analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group reiterated a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. Royal Bank of Canada boosted their price target on shares of Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. The Goldman Sachs Group increased their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft boosted their target price on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Finally, HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.33.

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.