Alkermes plc (NASDAQ:ALKS) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,626 shares of the company's stock after purchasing an additional 27,604 shares during the quarter. Mackenzie Financial Corp owned 0.20% of Alkermes worth $9,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Avoro Capital Advisors LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at about $70,462,000. Norges Bank acquired a new stake in Alkermes during the fourth quarter worth about $56,684,000. RTW Investments LP increased its position in Alkermes by 13.6% during the fourth 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 during the last quarter. Nuveen Asset Management LLC increased its position in Alkermes by 109.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock worth $47,736,000 after purchasing an additional 867,492 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Alkermes by 147.4% during the fourth quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock worth $25,581,000 after purchasing an additional 529,962 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Stock Up 2.0%

Alkermes stock traded up $0.60 during trading on Friday, reaching $30.85. The stock had a trading volume of 1,753,399 shares, compared to its average volume of 1,761,081. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The business has a 50 day moving average price of $29.80 and a 200 day moving average price of $30.86. The stock has a market cap of $5.09 billion, a PE ratio of 14.22, a P/E/G ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) 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 firm had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm's revenue was down 12.6% compared to the same quarter last year. On average, equities analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ALKS. Deutsche Bank Aktiengesellschaft raised their price objective 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 reaffirmed a "sector perform" rating on shares of Alkermes in a research note on Monday, April 28th. The Goldman Sachs Group increased their target price on shares of Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Wall Street Zen lowered shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Needham & Company LLC initiated coverage on shares of Alkermes in a research note on Wednesday. They issued a "buy" rating and a $45.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.85.

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.