117,000 Shares in Alkermes plc (NASDAQ:ALKS) Purchased by LSV Asset Management

LSV Asset Management acquired a new position in Alkermes plc (NASDAQ:ALKS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 117,000 shares of the company's stock, valued at approximately $3,246,000. LSV Asset Management owned 0.07% of Alkermes as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB boosted its holdings in shares of Alkermes by 521.3% in the fourth quarter. Handelsbanken Fonder AB now owns 175,200 shares of the company's stock valued at $4,860,000 after acquiring an additional 147,000 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Alkermes by 81.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 377,489 shares of the company's stock valued at $10,472,000 after purchasing an additional 169,385 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Alkermes by 15.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 308,545 shares of the company's stock valued at $8,642,000 after purchasing an additional 41,753 shares during the period. Jennison Associates LLC raised its stake in shares of Alkermes by 33.4% in the 4th quarter. Jennison Associates LLC now owns 36,335 shares of the company's stock worth $1,008,000 after buying an additional 9,106 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Alkermes by 10.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,461,246 shares of the company's stock valued at $40,930,000 after buying an additional 133,357 shares during the period. Institutional investors own 95.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALKS. Robert W. Baird assumed coverage on shares of Alkermes in a research report on Tuesday, March 19th. They issued an "outperform" rating and a $37.00 price target on the stock. StockNews.com cut shares of Alkermes from a "buy" rating to a "hold" rating in a report on Friday, May 3rd. TheStreet raised Alkermes from a "c+" rating to a "b" rating in a report on Thursday, February 15th. Piper Sandler restated an "overweight" rating and issued a $39.00 target price on shares of Alkermes in a report on Monday, April 1st. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $35.00 target price on shares of Alkermes in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of "Hold" and an average price target of $35.38.

Alkermes Stock Up 0.7 %

Shares of ALKS stock traded up $0.16 on Thursday, reaching $24.26. 1,013,536 shares of the company's stock traded hands, compared to its average volume of 1,870,305. The business's 50 day moving average price is $26.39 and its two-hundred day moving average price is $26.68. The company has a market capitalization of $4.11 billion, a P/E ratio of 9.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.77 and a current ratio of 3.20. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $33.71.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.15). The company had revenue of $350.37 million for the quarter, compared to analysts' expectations of $360.26 million. Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, equities analysts forecast that Alkermes plc will post 2.39 earnings per share for the current year.

Alkermes declared that its Board of Directors has approved a stock buyback program on Thursday, February 15th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $28.10, for a total value of $292,717.70. Following the transaction, the senior vice president now owns 65,911 shares in the company, valued at $1,852,099.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.76% of the stock is owned by corporate insiders.

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.