AXS Investments LLC Makes New $1.03 Million Investment in Alkermes plc (NASDAQ:ALKS)

Key Points

• AXS Investments LLC recently acquired 31,200 shares of Alkermes plc, valued at approximately $1,030,000.
• 95.21% of Alkermes' stock is currently owned by institutional investors and hedge funds, with multiple firms increasing their positions in the company during the fourth quarter.
• Alkermes reported an EPS of $0.52, exceeding the consensus estimate of $0.42, alongside a revenue of $390.66 million for the last quarter.

AXS Investments LLC acquired a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 31,200 shares of the company's stock, valued at approximately $1,030,000.

Other hedge funds have also made changes to their positions in the company. New Age Alpha Advisors LLC boosted its holdings in Alkermes by 130.8% in the first quarter. New Age Alpha Advisors LLC now owns 13,702 shares of the company's stock valued at $452,000 after acquiring an additional 7,765 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Alkermes by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company's stock valued at $408,000 after acquiring an additional 451 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Alkermes in the first quarter valued at $410,000. Natixis Advisors LLC boosted its holdings in Alkermes by 14.3% in the first quarter. Natixis Advisors LLC now owns 57,067 shares of the company's stock valued at $1,884,000 after acquiring an additional 7,145 shares during the last quarter. Finally, Bayforest Capital Ltd boosted its holdings in Alkermes by 105.2% in the first quarter. Bayforest Capital Ltd now owns 9,270 shares of the company's stock valued at $306,000 after acquiring an additional 4,752 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Stock Up 0.1%

ALKS stock traded up $0.04 during midday trading on Monday, reaching $26.75. The company had a trading volume of 212,292 shares, compared to its average volume of 1,776,716. The stock has a 50 day moving average price of $28.87 and a 200 day moving average price of $30.66. Alkermes plc has a fifty-two week low of $25.56 and a fifty-two week high of $36.45. The firm has a market capitalization of $4.42 billion, a PE ratio of 12.86, a P/E/G ratio of 1.53 and a beta of 0.47.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Alkermes had a return on equity of 24.86% and a net margin of 23.15%. The company had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. During the same period in the previous year, the firm posted $1.16 earnings per share. Alkermes's quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts predict that Alkermes plc will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALKS. The Goldman Sachs Group began coverage on Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 price objective on the stock. HC Wainwright restated a "neutral" rating and set a $46.00 price objective on shares of Alkermes in a research note on Monday, July 21st. Robert W. Baird boosted their price objective on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $33.00 to $42.00 in a research note on Tuesday, June 17th. Finally, Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $41.08.

Insider Activity

In other news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the transaction, the senior vice president directly owned 86,208 shares in the company, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.

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.