Private Client Services LLC Takes Position in Alkermes plc (NASDAQ:ALKS)

Private Client Services LLC bought a new position in Alkermes plc (NASDAQ:ALKS - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 28,132 shares of the company's stock, valued at approximately $929,000.

A number of other institutional investors also recently bought and sold shares of the stock. RTW Investments LP boosted its stake in Alkermes by 13.6% in the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock worth $217,363,000 after purchasing an additional 903,802 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Alkermes by 1.1% in the 4th quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company's stock worth $157,568,000 after purchasing an additional 57,697 shares in the last quarter. American Century Companies Inc. boosted its stake in Alkermes by 6.5% in the 4th quarter. American Century Companies Inc. now owns 3,450,707 shares of the company's stock worth $99,242,000 after purchasing an additional 209,740 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Alkermes by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company's stock worth $86,842,000 after purchasing an additional 128,701 shares in the last quarter. Finally, Avoro Capital Advisors LLC acquired a new stake in Alkermes in the 4th quarter worth approximately $70,462,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Wall Street Zen lowered shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. UBS Group reissued a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. Finally, Royal Bank of Canada raised 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.85.

Alkermes Price Performance

NASDAQ ALKS traded up $0.60 on Friday, hitting $30.85. The company had a trading volume of 1,753,399 shares, compared to its average volume of 1,761,081. The company has a market capitalization of $5.09 billion, a PE ratio of 14.22, a PEG ratio of 2.20 and a beta of 0.51. The company's fifty day moving average price is $29.80 and its 200-day moving average price is $30.84. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $36.45.

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

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.