Alkermes plc (NASDAQ:ALKS) Stake Raised by ProShare Advisors LLC

ProShare Advisors LLC lifted its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,211 shares of the company's stock after buying an additional 12,274 shares during the period. ProShare Advisors LLC's holdings in Alkermes were worth $1,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALKS. Quantedge Capital Pte Ltd purchased a new stake in Alkermes during the 4th quarter worth $1,665,000. Quantinno Capital Management LP purchased a new stake in Alkermes during the 4th quarter worth $247,000. Nuveen Asset Management LLC boosted its position in Alkermes by 109.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock worth $47,736,000 after purchasing an additional 867,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Alkermes by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after purchasing an additional 311 shares during the period. Finally, Cetera Investment Advisers boosted its position in Alkermes by 10.4% during the 4th quarter. Cetera Investment Advisers now owns 10,645 shares of the company's stock worth $306,000 after purchasing an additional 999 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Stock Performance

Shares of ALKS stock traded down $0.70 during trading hours on Friday, hitting $29.35. 2,005,528 shares of the company were exchanged, compared to its average volume of 1,758,396. Alkermes plc has a one year low of $22.90 and a one year high of $36.45. The business's 50-day simple moving average is $30.23 and its two-hundred day simple moving average is $30.81. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.13 EPS 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 for the quarter, compared to the consensus estimate of $307.53 million. During the same period in the previous year, the business posted $0.43 EPS. The business's revenue for the quarter was down 12.6% on a year-over-year basis. As a group, analysts anticipate 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. UBS Group reaffirmed a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. Robert W. Baird upped their price target on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. The Goldman Sachs Group upped their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Finally, Royal Bank of Canada upped their price objective on shares of Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alkermes presently has a consensus rating of "Moderate Buy" and an average 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.