Nuveen Asset Management LLC lifted its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 109.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,659,821 shares of the company's stock after purchasing an additional 867,492 shares during the period. Nuveen Asset Management LLC owned about 1.03% of Alkermes worth $47,736,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. Barclays PLC increased its position in Alkermes by 108.8% during the third quarter. Barclays PLC now owns 423,931 shares of the company's stock worth $11,867,000 after purchasing an additional 220,893 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Alkermes by 1.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 111,909 shares of the company's stock valued at $3,219,000 after buying an additional 1,455 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Alkermes by 2.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 93,532 shares of the company's stock worth $2,690,000 after buying an additional 2,373 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Alkermes by 3.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company's stock valued at $890,000 after buying an additional 897 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Alkermes by 2,394.5% during the 4th quarter. Blue Trust Inc. now owns 1,821 shares of the company's stock valued at $51,000 after buying an additional 1,748 shares during the period. Institutional investors and hedge funds own 95.21% of the company's stock.
Alkermes Stock Down 1.6%
NASDAQ ALKS traded down $0.48 on Thursday, hitting $30.05. The stock had a trading volume of 694,655 shares, compared to its average volume of 1,756,955. The company's 50-day moving average is $30.41 and its two-hundred day moving average is $30.78. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 2.20 and a beta of 0.51.
Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data 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 return on equity of 30.80% and a net margin of 23.57%. The company had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same period in the previous year, the company earned $0.43 EPS. The business's revenue for the quarter was down 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently issued reports on ALKS shares. The Goldman Sachs Group boosted their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. Robert W. Baird boosted their price target on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Cantor Fitzgerald upgraded shares of Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. Royal Bank of Canada lifted their target price on shares of Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Finally, Wall Street Zen lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and an average target price of $38.33.
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About Alkermes
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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.
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