Raymond James & Associates trimmed its stake in Alkermes plc (NASDAQ:ALKS – Get Rating) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,766 shares of the company's stock after selling 2,220 shares during the period. Raymond James & Associates' holdings in Alkermes were worth $553,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Xponance Inc. lifted its stake in Alkermes by 7.9% during the third quarter. Xponance Inc. now owns 9,737 shares of the company's stock worth $217,000 after purchasing an additional 711 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of Alkermes by 132.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,506 shares of the company's stock worth $45,000 after purchasing an additional 857 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Alkermes in the second quarter worth $27,000. Ensign Peak Advisors Inc lifted its position in Alkermes by 3.1% during the first quarter. Ensign Peak Advisors Inc now owns 31,000 shares of the company's stock worth $816,000 after purchasing an additional 930 shares during the period. Finally, International Biotechnology Trust PLC bought a new position in shares of Alkermes in the 2nd quarter worth $51,000. 96.15% of the stock is owned by institutional investors.
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Wall Street Analysts Forecast Growth
Several analysts recently issued reports on ALKS shares. Piper Sandler upgraded 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 shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 2nd. Bank of America lifted their price objective on shares of Alkermes from $27.00 to $28.00 in a research note on Sunday, January 8th. Mizuho increased their target price on Alkermes from $34.00 to $36.00 and gave the stock a "buy" rating in a report on Tuesday, November 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Alkermes from $33.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, December 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Alkermes currently has an average rating of "Moderate Buy" and an average target price of $29.89.
Alkermes Stock Performance
Shares of ALKS stock opened at $28.64 on Wednesday. Alkermes plc has a 12 month low of $21.75 and a 12 month high of $32.79. The stock has a market cap of $4.71 billion, a PE ratio of -36.72 and a beta of 0.57. The company's fifty day moving average price is $26.17 and its 200-day moving average price is $24.93. The company has a current ratio of 2.24, a quick ratio of 1.89 and a debt-to-equity ratio of 0.28.
Alkermes (NASDAQ:ALKS – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $252.36 million for the quarter, compared to analyst estimates of $271.45 million. Alkermes had a negative return on equity of 1.10% and a negative net margin of 11.41%. The company's quarterly revenue was down 14.2% on a year-over-year basis. During the same period last year, the firm earned ($0.02) EPS. On average, equities analysts expect that Alkermes plc will post -0.29 EPS for the current fiscal year.
Alkermes Company Profile
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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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