RTW Investments LP Increases Position in Alkermes plc (NASDAQ:ALKS)

RTW Investments LP grew its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,557,835 shares of the company's stock after acquiring an additional 903,802 shares during the period. Alkermes comprises about 3.3% of RTW Investments LP's holdings, making the stock its 8th biggest position. RTW Investments LP owned about 4.67% of Alkermes worth $217,363,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ALKS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after buying an additional 311 shares in the last quarter. CIBC Asset Management Inc grew its stake in Alkermes by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 9,155 shares of the company's stock worth $263,000 after buying an additional 384 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Alkermes by 3.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock valued at $408,000 after purchasing an additional 532 shares in the last quarter. Sei Investments Co. grew its stake in shares of Alkermes by 1.1% in the fourth quarter. Sei Investments Co. now owns 75,394 shares of the company's stock valued at $2,168,000 after buying an additional 828 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock valued at $47,000 after purchasing an additional 842 shares during the period. Hedge funds and other institutional investors own 95.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. UBS Group restated a "sector perform" rating on shares of Alkermes in a research note on Monday, April 28th. StockNews.com lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research note on Friday, May 2nd. Finally, Robert W. Baird lifted their price target on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.33.

Alkermes Price Performance

Shares of ALKS stock traded down $0.97 on Wednesday, hitting $30.70. 184,307 shares of the stock traded hands, compared to its average volume of 1,755,110. The company's fifty day moving average is $30.48 and its 200 day moving average is $30.78. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45. The company has a market capitalization of $5.06 billion, a PE ratio of 14.17, a PEG ratio of 2.20 and a beta of 0.51.

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

About Alkermes

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.