Eagle Asset Management Inc. lifted its holdings in shares of Alkermes plc (NASDAQ:ALKS – Get Rating) by 13.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 855,540 shares of the company's stock after acquiring an additional 102,490 shares during the period. Eagle Asset Management Inc.'s holdings in Alkermes were worth $19,104,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ALKS. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Alkermes during the first quarter worth $56,494,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Alkermes during the second quarter worth $37,882,000. Victory Capital Management Inc. boosted its holdings in shares of Alkermes by 1,265.8% during the second quarter. Victory Capital Management Inc. now owns 1,175,574 shares of the company's stock worth $35,020,000 after purchasing an additional 1,089,504 shares during the last quarter. Emerald Advisers LLC acquired a new stake in shares of Alkermes during the second quarter worth $31,026,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Alkermes during the second quarter worth $27,688,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Alkermes Trading Up 0.2 %

NASDAQ:ALKS opened at $28.69 on Thursday. The business's 50-day moving average is $26.26 and its two-hundred day moving average is $24.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.89. Alkermes plc has a 12 month low of $21.75 and a 12 month high of $32.79. The firm has a market capitalization of $4.71 billion, a PE ratio of -36.78 and a beta of 0.57.

Wall Street Analyst Weigh In

ALKS has been the topic of several analyst reports. Bank of America raised their price objective on Alkermes from $27.00 to $28.00 in a report on Sunday, January 8th. Piper Sandler raised Alkermes from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $26.00 to $30.00 in a research report on Thursday, November 3rd. StockNews.com lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 2nd. JPMorgan Chase & Co. cut their target price on Alkermes from $33.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 6th. Finally, Mizuho increased their target price on Alkermes from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Tuesday, November 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $29.89.

About Alkermes

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Alkermes Plc is a global biopharmaceutical company. It is engaged in the business of developing, manufacturing, and commercializing medicines designed to address unmet medical needs of patients in major therapeutic areas. Its proprietary products include ARISTADA, ARISTADA INITIO, LYBALVI, and VIVITROL.

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