Alkermes plc (NASDAQ:ALKS) Shares Purchased by RTW Investments LP

RTW Investments LP lifted its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 13.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,557,835 shares of the company's stock after purchasing an additional 903,802 shares during the quarter. Alkermes comprises about 3.3% of RTW Investments LP's holdings, making the stock its 8th biggest holding. RTW Investments LP owned about 4.67% of Alkermes worth $217,363,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Venturi Wealth Management LLC purchased a new stake in Alkermes during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in shares of Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after acquiring an additional 842 shares in the last quarter. Blue Trust Inc. raised its position in shares of Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock worth $49,000 after acquiring an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock worth $85,000 after acquiring an additional 2,502 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new stake in shares of Alkermes during the 4th quarter worth about $203,000. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS traded up $0.03 on Monday, reaching $31.45. The company's stock had a trading volume of 621,221 shares, compared to its average volume of 1,760,946. The stock's 50-day moving average is $30.56 and its two-hundred day moving average is $30.74. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The stock has a market capitalization of $5.19 billion, a P/E ratio of 14.49, a PEG ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The business had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. During the same period in the previous year, the company posted $0.43 earnings per share. Alkermes's quarterly revenue was down 12.6% on a year-over-year basis. Equities analysts forecast that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALKS has been the topic of several recent analyst reports. Robert W. Baird increased their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Royal Bank of Canada boosted their price target on shares of Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. UBS Group restated a "sector perform" rating on shares of Alkermes in a research note on Monday, April 28th. The Goldman Sachs Group lifted their target price on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Finally, StockNews.com cut Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.33.

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.