Nuveen Asset Management LLC Purchases 867,492 Shares of Alkermes plc (NASDAQ:ALKS)

Nuveen Asset Management LLC boosted its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 109.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,659,821 shares of the company's stock after acquiring an additional 867,492 shares during the period. Nuveen Asset Management LLC owned 1.03% of Alkermes worth $47,736,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ALKS. Venturi Wealth Management LLC purchased a new position in Alkermes in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC boosted its position in Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after purchasing an additional 842 shares during the period. Blue Trust Inc. lifted its holdings in Alkermes by 2,231.5% in the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock worth $49,000 after buying an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Alkermes by 558.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock valued at $85,000 after purchasing an additional 2,502 shares in the last quarter. Finally, Cornerstone Investment Partners LLC bought a new position in Alkermes in the 4th quarter worth about $203,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALKS has been the subject of a number of research reports. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. 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 report on Thursday, March 27th. Robert W. Baird lifted their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, UBS Group reissued a "sector perform" rating on shares of Alkermes in a report on Monday, April 28th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Alkermes Trading Down 2.3%

Shares of NASDAQ:ALKS traded down $0.70 during midday trading on Friday, reaching $29.35. The company had a trading volume of 2,005,528 shares, compared to its average volume of 1,758,396. The company's 50 day moving average price is $30.23 and its 200 day moving average price is $30.83. The stock has a market cap of $4.84 billion, a P/E ratio of 13.53, a P/E/G ratio of 2.20 and a beta of 0.51. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The company had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. The company's quarterly revenue was down 12.6% on a year-over-year basis. Research analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

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.