Yousif Capital Management LLC Takes Position in Alkermes plc (NASDAQ:ALKS)

Yousif Capital Management LLC purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 83,397 shares of the company's stock, valued at approximately $2,313,000.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Alkermes by 0.4% in the third quarter. Vanguard Group Inc. now owns 18,667,269 shares of the company's stock worth $522,870,000 after buying an additional 72,797 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Alkermes by 52.7% in the third quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company's stock worth $329,028,000 after buying an additional 4,055,926 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Alkermes by 4.0% in the third quarter. Bank of New York Mellon Corp now owns 2,761,316 shares of the company's stock worth $77,344,000 after buying an additional 106,749 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Alkermes by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,162,198 shares of the company's stock worth $60,563,000 after buying an additional 114,388 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Alkermes by 0.8% in the third quarter. Northern Trust Corp now owns 1,688,887 shares of the company's stock worth $47,306,000 after buying an additional 13,545 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALKS. HC Wainwright restated a "neutral" rating and issued a $35.00 target price on shares of Alkermes in a research note on Friday, April 19th. Piper Sandler reiterated an "overweight" rating and set a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. UBS Group downgraded Alkermes from a "neutral" rating to a "sell" rating and set a $25.00 price target on the stock. in a research report on Tuesday, February 20th. StockNews.com downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 23rd. Finally, Jefferies Financial Group increased their price target on Alkermes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.38.

Insider Activity at Alkermes

In related news, SVP Christian Todd Nichols sold 10,417 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was 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 of the company's stock, valued at $1,852,099.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.76% of the company's stock.

Alkermes Price Performance

Shares of Alkermes stock traded down $0.53 during mid-day trading on Wednesday, reaching $24.01. 2,843,961 shares of the stock traded hands, compared to its average volume of 1,899,660. The business has a 50-day moving average of $27.04 and a 200 day moving average of $26.81. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $33.71. The stock has a market capitalization of $4.06 billion, a PE ratio of 11.86, a PEG ratio of 0.69 and a beta of 0.55. The company has a quick ratio of 2.50, a current ratio of 2.86 and a debt-to-equity ratio of 0.24.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.29). Alkermes had a net margin of 21.39% and a return on equity of 16.10%. The firm had revenue of $377.50 million for the quarter, compared to analyst estimates of $362.78 million. During the same period in the previous year, the company earned ($0.02) EPS. Alkermes's revenue was up 23.9% compared to the same quarter last year. On average, analysts predict that Alkermes plc will post 2.22 EPS for the current year.

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