Mutual of America Capital Management LLC Boosts Holdings in Alkermes plc (NASDAQ:ALKS)

Mutual of America Capital Management LLC increased its holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 87.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,976 shares of the company's stock after acquiring an additional 56,141 shares during the quarter. Mutual of America Capital Management LLC owned about 0.07% of Alkermes worth $3,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKS. Allspring Global Investments Holdings LLC raised its stake in Alkermes by 81.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 377,489 shares of the company's stock worth $10,472,000 after purchasing an additional 169,385 shares during the period. Rafferty Asset Management LLC raised its stake in Alkermes by 15.7% during the third quarter. Rafferty Asset Management LLC now owns 308,545 shares of the company's stock worth $8,642,000 after purchasing an additional 41,753 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Alkermes by 10.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,461,246 shares of the company's stock worth $40,930,000 after purchasing an additional 133,357 shares during the period. Pearl River Capital LLC raised its stake in shares of Alkermes by 141.6% in the 3rd quarter. Pearl River Capital LLC now owns 47,382 shares of the company's stock valued at $1,327,000 after acquiring an additional 27,774 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Alkermes by 52.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company's stock valued at $329,028,000 after acquiring an additional 4,055,926 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alkermes

In related news, SVP Christian Todd Nichols sold 10,417 shares of the company's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the completion of the sale, the senior vice president now owns 65,911 shares in the company, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.76% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALKS. Piper Sandler reissued an "overweight" rating and issued a $39.00 price target on shares of Alkermes in a research note on Monday, April 1st. TheStreet raised shares of Alkermes from a "c+" rating to a "b" rating in a research note on Thursday, February 15th. Robert W. Baird began coverage on shares of Alkermes in a report on Tuesday, March 19th. They issued an "outperform" rating and a $37.00 price objective for the company. StockNews.com cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a report on Friday, February 23rd. Finally, Bank of America lifted their price objective on shares of Alkermes from $27.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $35.25.

Alkermes Stock Down 1.0 %

Shares of Alkermes stock traded down $0.25 during trading hours on Thursday, hitting $23.76. The company had a trading volume of 1,798,839 shares, compared to its average volume of 1,912,183. The company's 50-day moving average is $27.96 and its two-hundred day moving average is $27.05. Alkermes plc has a twelve month low of $22.01 and a twelve month high of $33.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50. The company has a market cap of $4.02 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 0.66 and a beta of 0.55.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.29). Alkermes had a net margin of 21.39% and a return on equity of 16.10%. The company had revenue of $377.50 million during the quarter, compared to analyst estimates of $362.78 million. During the same quarter in the previous year, the company posted ($0.02) EPS. The company's quarterly revenue was up 23.9% on a year-over-year basis. Analysts anticipate that Alkermes plc will post 2.23 earnings per share for the current fiscal year.

Alkermes announced that its board has approved a stock repurchase plan on Thursday, February 15th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the company to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.