Pictet Asset Management SA Buys 18,707 Shares of Alkermes plc (NASDAQ:ALKS)

Pictet Asset Management SA raised its stake in Alkermes plc (NASDAQ:ALKSGet Rating) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 484,515 shares of the company’s stock after buying an additional 18,707 shares during the period. Pictet Asset Management SA owned about 0.29% of Alkermes worth $14,434,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC bought a new position in shares of Alkermes during the 1st quarter valued at $874,000. Comerica Bank bought a new position in shares of Alkermes during the 2nd quarter valued at $911,000. Qube Research & Technologies Ltd grew its holdings in shares of Alkermes by 242.9% during the 1st quarter. Qube Research & Technologies Ltd now owns 35,680 shares of the company’s stock valued at $939,000 after purchasing an additional 25,276 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Alkermes during the 2nd quarter valued at $1,002,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Alkermes in the 2nd quarter worth $336,000. Institutional investors own 94.77% of the company’s stock.

Analysts Set New Price Targets

ALKS has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 2nd. Piper Sandler raised shares of Alkermes from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $26.00 to $30.00 in a report on Thursday, November 3rd. Stifel Nicolaus raised their price target on shares of Alkermes to $28.00 in a report on Wednesday, July 27th. Mizuho cut their price target on shares of Alkermes from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, Bank of America raised shares of Alkermes from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $27.00 to $25.00 in a report on Friday, October 14th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $29.67.

Alkermes Trading Down 0.9 %

Shares of NASDAQ ALKS opened at $22.38 on Thursday. Alkermes plc has a 1 year low of $21.24 and a 1 year high of $32.79. The stock has a market cap of $3.68 billion, a P/E ratio of -28.69 and a beta of 0.60. The firm has a 50-day moving average of $22.97 and a 200 day moving average of $26.14. 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 (NASDAQ:ALKSGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Alkermes had a negative net margin of 11.41% and a negative return on equity of 1.10%. The business had revenue of $252.36 million for the quarter, compared to analysts’ expectations of $271.45 million. During the same period last year, the business earned ($0.02) earnings per share. The company’s revenue was down 14.2% on a year-over-year basis. As a group, sell-side analysts expect that Alkermes plc will post -0.32 EPS for the current fiscal year.

Alkermes Profile

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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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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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