Charles Schwab Investment Management Inc. Has $67.61 Million Stock Position in Alkermes plc $ALKS

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Alkermes plc by 1.0%, now owning 2,047,403 shares valued at approximately $67.6 million.
• Several institutional investors, including Avoro Capital Advisors and RTW Investments LP, have either increased their holdings or established new stakes in Alkermes during the fourth quarter.
• Alkermes reported a quarterly earnings per share of $0.52, surpassing analysts' expectations, along with revenue of $390.66 million, which was also higher than projected.

Charles Schwab Investment Management Inc. reduced its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,047,403 shares of the company's stock after selling 21,558 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.24% of Alkermes worth $67,605,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ALKS. Avoro Capital Advisors LLC bought a new position in shares of Alkermes during the 4th quarter worth about $70,462,000. RTW Investments LP grew 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 buying an additional 903,802 shares in the last quarter. Nuveen Asset Management LLC grew 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 buying an additional 867,492 shares in the last quarter. Mesirow Institutional Investment Management Inc. bought a new position in Alkermes during the fourth quarter valued at about $10,839,000. Finally, Stempoint Capital LP raised its holdings in Alkermes by 752.4% in the 4th quarter. Stempoint Capital LP now owns 416,968 shares of the company's stock valued at $11,992,000 after acquiring an additional 368,050 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALKS. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Royal Bank Of Canada boosted their price target on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Robert W. Baird raised their price objective on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and upped their target price for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Finally, HC Wainwright restated a "neutral" rating and set a $46.00 price target on shares of Alkermes in a research note on Monday, July 21st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $41.08.

Alkermes Stock Up 1.4%

ALKS stock traded up $0.38 during midday trading on Tuesday, reaching $28.50. 663,015 shares of the company's stock traded hands, compared to its average volume of 1,759,472. The company has a 50-day simple moving average of $28.47 and a two-hundred day simple moving average of $30.51. Alkermes plc has a 1-year low of $25.56 and a 1-year high of $36.45. The company has a market cap of $4.70 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.66 and a beta of 0.47.

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

Insider Activity

In other news, SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total transaction of $103,654.06. Following the sale, the senior vice president directly owned 86,208 shares of the company's stock, valued at $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.