Squarepoint Ops LLC Boosts Stock Position in Alkermes plc (NASDAQ:ALKS)

Squarepoint Ops LLC boosted its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 223,069 shares of the company's stock after acquiring an additional 33,419 shares during the period. Squarepoint Ops LLC owned 0.14% of Alkermes worth $6,415,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALKS. Avoro Capital Advisors LLC bought a new stake in shares of Alkermes during the fourth quarter valued at approximately $70,462,000. Norges Bank purchased a new position in Alkermes during the fourth quarter valued at $56,684,000. RTW Investments LP increased its holdings in Alkermes by 13.6% in the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock valued at $217,363,000 after acquiring an additional 903,802 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Alkermes by 109.5% in 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Alkermes by 147.4% in the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock worth $25,581,000 after purchasing an additional 529,962 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Up 2.0%

ALKS traded up $0.59 during trading on Friday, reaching $30.84. The company had a trading volume of 435,338 shares, compared to its average volume of 1,760,445. The business has a 50 day simple moving average of $29.86 and a 200-day simple moving average of $30.82. The stock has a market cap of $5.09 billion, a P/E ratio of 14.20, a PEG 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 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). The firm had revenue of $306.51 million during the quarter, compared to analysts' expectations of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The company's revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. As a group, equities research analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. UBS Group reissued a "sector perform" rating on shares of Alkermes in a research note on Monday, April 28th. Royal Bank of Canada raised their price target on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, May 2nd. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Robert W. Baird increased their target price on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Four 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 company's stock. According to data from MarketBeat, Alkermes presently has an average rating of "Moderate Buy" and an average price target of $38.85.

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.