Alkermes plc (NASDAQ:ALKS) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its holdings in Alkermes plc (NASDAQ:ALKS) by 10.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 244,857 shares of the company’s stock after purchasing an additional 23,600 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.14% of Alkermes worth $5,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ALKS. Signaturefd LLC grew its position in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after purchasing an additional 703 shares during the period. CWM LLC lifted its holdings in shares of Alkermes by 36.7% in the 1st quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after purchasing an additional 733 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Alkermes during the 2nd quarter valued at approximately $116,000. Institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Robert W. Baird upped their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a report on Monday, September 16th. Finally, HC Wainwright boosted their price target on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Trading Up 0.6 %

Shares of ALKS stock opened at $29.00 on Thursday. The stock has a 50-day simple moving average of $27.58 and a 200 day simple moving average of $25.76. The stock has a market capitalization of $4.91 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.59 and a beta of 0.46. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.70. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. During the same quarter in the previous year, the company posted $0.38 EPS. The business’s revenue was down 35.4% compared to the same quarter last year. On average, sell-side analysts expect that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

About Alkermes

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.