Penserra Capital Management LLC Buys New Shares in Alkermes plc (NASDAQ:ALKS)

Penserra Capital Management LLC bought a new stake in Alkermes plc (NASDAQ:ALKS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,010 shares of the company's stock, valued at approximately $759,000.

A number of other institutional investors have also recently bought and sold shares of ALKS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock valued at $2,877,000 after buying an additional 311 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Alkermes by 54.4% in the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after buying an additional 521 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Alkermes by 3.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock worth $408,000 after buying an additional 532 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Alkermes by 0.9% in the first quarter. Illinois Municipal Retirement Fund now owns 82,680 shares of the company's stock worth $2,730,000 after buying an additional 702 shares during the last quarter. Finally, GF Fund Management CO. LTD. increased its stake in shares of Alkermes by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 4,143 shares of the company's stock worth $137,000 after buying an additional 746 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALKS. Deutsche Bank Aktiengesellschaft increased their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a report on Friday, May 2nd. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. Royal Bank Of Canada increased their price objective on shares of Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Finally, UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and increased their target price for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the firm's 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 completion of the transaction, the senior vice president directly owned 86,208 shares of the company's stock, valued at $2,680,206.72. This trade represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company's stock.

Alkermes Stock Performance

Alkermes stock traded down $0.18 during trading hours on Friday, reaching $30.28. 1,483,309 shares of the company's stock traded hands, compared to its average volume of 1,734,258. Alkermes plc has a fifty-two week low of $23.12 and a fifty-two week high of $36.45. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.89 and a beta of 0.44. The firm's 50 day moving average is $30.15 and its 200-day moving average is $30.89.

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 analysts' consensus estimates of $0.32 by ($0.19). The firm had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. Alkermes had a net margin of 23.30% and a return on equity of 27.52%. The business's revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Analysts predict that Alkermes plc will post 1.31 EPS for the current 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.