Hudson Portfolio Management LLC boosted its position in Alkermes plc (NASDAQ:ALKS – Get Rating) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,380 shares of the company's stock after buying an additional 2,700 shares during the quarter. Alkermes makes up about 1.4% of Hudson Portfolio Management LLC's holdings, making the stock its 22nd biggest position. Hudson Portfolio Management LLC's holdings in Alkermes were worth $1,641,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Alkermes by 5.8% in the 1st quarter. BlackRock Inc. now owns 15,080,046 shares of the company's stock valued at $396,756,000 after purchasing an additional 827,759 shares during the period. Sarissa Capital Management LP boosted its holdings in Alkermes by 6.3% in the 4th quarter. Sarissa Capital Management LP now owns 14,040,000 shares of the company's stock valued at $326,570,000 after purchasing an additional 827,000 shares during the period. State Street Corp lifted its holdings in shares of Alkermes by 15.7% during the 4th quarter. State Street Corp now owns 5,694,440 shares of the company's stock worth $132,453,000 after acquiring an additional 772,964 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Alkermes by 1.4% during the 4th quarter. Renaissance Technologies LLC now owns 4,810,945 shares of the company's stock worth $111,903,000 after acquiring an additional 66,463 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Alkermes by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 2,871,803 shares of the company's stock worth $66,798,000 after acquiring an additional 61,474 shares during the period. 94.77% of the stock is currently owned by institutional investors and hedge funds.
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Alkermes Trading Up 0.6 %
Shares of ALKS stock opened at $24.51 on Friday. Alkermes plc has a 12-month low of $21.24 and a 12-month high of $33.00. The company has a market capitalization of $4.03 billion, a P/E ratio of -43.00 and a beta of 0.60. The firm has a 50-day moving average price of $27.72 and a 200 day moving average price of $27.47. The company has a quick ratio of 2.03, a current ratio of 2.39 and a debt-to-equity ratio of 0.27.
Alkermes (NASDAQ:ALKS – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. The firm had revenue of $276.22 million during the quarter, compared to the consensus estimate of $269.01 million. Alkermes had a negative net
margin of 8.02% and a positive return on equity of 0.79%. The firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.13 EPS. Research analysts forecast that Alkermes plc will post -0.34 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ALKS. Stifel Nicolaus raised their price objective on shares of Alkermes to $28.00 in a report on Wednesday, July 27th. StockNews.com downgraded shares of Alkermes from a "strong-buy" rating to a "buy" rating in a report on Wednesday, August 24th. Mizuho reduced their price objective on shares of Alkermes from $36.00 to $34.00 and set a "buy" rating for the company in a report on Thursday, July 28th. Finally, Piper Sandler began coverage on shares of Alkermes in a report on Tuesday, August 16th. They set a "neutral" rating and a $26.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.44.
Insider Buying and Selling at Alkermes
In other Alkermes news, SVP Christian Todd Nichols sold 7,474 shares of the firm's stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $28.26, for a total value of $211,215.24. Following the completion of the sale, the senior vice president now owns 21,035 shares in the company, valued at approximately $594,449.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.76% of the company's stock.
About Alkermes
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Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.
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