Two Sigma Investments LP Has $9.45 Million Position in Alkermes plc (NASDAQ:ALKS)

Two Sigma Investments LP reduced its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 19.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 328,520 shares of the company's stock after selling 77,139 shares during the period. Two Sigma Investments LP owned about 0.20% of Alkermes worth $9,448,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALKS. Barclays PLC boosted its position in Alkermes by 108.8% during the 3rd quarter. Barclays PLC now owns 423,931 shares of the company's stock worth $11,867,000 after buying an additional 220,893 shares during the period. Nisa Investment Advisors LLC increased its position in Alkermes by 2.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 93,532 shares of the company's stock valued at $2,690,000 after acquiring an additional 2,373 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Alkermes by 3.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 30,950 shares of the company's stock valued at $890,000 after acquiring an additional 897 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Alkermes by 2,394.5% during the fourth quarter. Blue Trust Inc. now owns 1,821 shares of the company's stock worth $51,000 after purchasing an additional 1,748 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Alkermes by 46.7% during the fourth quarter. KBC Group NV now owns 7,176 shares of the company's stock worth $206,000 after purchasing an additional 2,286 shares during the period. 95.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALKS. UBS Group reaffirmed a "sector perform" rating on shares of Alkermes in a research report on Monday, April 28th. The Goldman Sachs Group raised their price objective on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Royal Bank of Canada lifted their price objective on Alkermes from $39.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a research report on Friday, May 2nd. Finally, Needham & Company LLC began coverage on shares of Alkermes in a report on Wednesday. They set a "buy" rating and a $45.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and an average target price of $38.85.

Alkermes Price Performance

Shares of Alkermes stock traded up $0.47 during trading on Friday, reaching $30.72. 376,423 shares of the company traded hands, compared to its average volume of 1,760,233. The firm has a market capitalization of $5.06 billion, a PE ratio of 14.17, a P/E/G ratio of 2.20 and a beta of 0.51. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45. The company has a 50 day moving average price of $29.86 and a 200-day moving average price of $30.82.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced 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). The company had revenue of $306.51 million for the quarter, compared to analyst estimates of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. Alkermes's revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 EPS. Equities research analysts expect that Alkermes plc will post 1.31 earnings per share 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.