Frazier Life Sciences Management L.P. Buys 25,000 Shares of Alkermes plc (NASDAQ:ALKS)

Frazier Life Sciences Management L.P. boosted its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 601,129 shares of the company's stock after purchasing an additional 25,000 shares during the period. Alkermes comprises approximately 0.7% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 29th biggest holding. Frazier Life Sciences Management L.P. owned 0.37% of Alkermes worth $17,288,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. RTW Investments LP lifted its stake in Alkermes by 13.6% in the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock valued at $217,363,000 after purchasing an additional 903,802 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Alkermes by 1.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company's stock valued at $157,568,000 after purchasing an additional 57,697 shares during the last quarter. American Century Companies Inc. boosted its position in Alkermes by 6.5% during the fourth 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 during the period. Dimensional Fund Advisors LP boosted its position in Alkermes by 4.5% during the fourth 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 during the period. Finally, Avoro Capital Advisors LLC bought a new position in Alkermes during the fourth quarter worth about $70,462,000. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS traded down $0.70 during trading on Friday, hitting $29.35. 2,005,528 shares of the company were exchanged, compared to its average volume of 1,758,838. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The company has a market cap of $4.84 billion, a PE ratio of 13.53, a P/E/G ratio of 2.20 and a beta of 0.51. The stock has a 50 day moving average of $30.23 and a 200 day moving average of $30.81.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. During the same quarter last year, the business posted $0.43 EPS. The company's quarterly revenue was down 12.6% on a year-over-year basis. Sell-side analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALKS has been the subject of a number of research reports. Cantor Fitzgerald upgraded shares of Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Royal Bank of Canada increased their target price 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. Robert W. Baird increased their target price on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.

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.