Xponance Inc. Has $217,000 Stake in Alkermes plc (NASDAQ:ALKS)

Xponance Inc. lifted its holdings in shares of Alkermes plc (NASDAQ:ALKSGet Rating) by 7.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 9,737 shares of the company’s stock after acquiring an additional 711 shares during the period. Xponance Inc.’s holdings in Alkermes were worth $217,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its holdings 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 acquiring an additional 857 shares during the period. Neo Ivy Capital Management bought a new stake in Alkermes in the second quarter valued at $27,000. Ensign Peak Advisors Inc grew its position in Alkermes by 3.1% in the first quarter. Ensign Peak Advisors Inc now owns 31,000 shares of the company’s stock valued at $816,000 after acquiring an additional 930 shares during the period. Trust Co. of Vermont bought a new stake in Alkermes in the second quarter valued at $30,000. Finally, International Biotechnology Trust PLC bought a new stake in Alkermes in the second quarter valued at $51,000. 96.15% of the stock is owned by institutional investors.

Alkermes Trading Up 3.6 %

ALKS stock opened at $27.09 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Alkermes plc has a twelve month low of $21.75 and a twelve month high of $32.79. The company has a market cap of $4.45 billion, a P/E ratio of -34.73 and a beta of 0.57. The business has a fifty day moving average of $24.83 and a 200-day moving average of $25.21.

Alkermes (NASDAQ:ALKSGet Rating) last released its earnings results on Wednesday, November 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) 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 analyst estimates of $271.45 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The business’s revenue for the quarter was down 14.2% on a year-over-year basis. As a group, equities research analysts expect that Alkermes plc will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALKS. JPMorgan Chase & Co. dropped their target price on shares of Alkermes from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, December 6th. Piper Sandler upgraded shares of Alkermes from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $26.00 to $30.00 in a research note on Thursday, November 3rd. Mizuho lifted their target price on shares of Alkermes from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, November 22nd. Bank of America lifted their target price on shares of Alkermes from $27.00 to $28.00 in a research note on Sunday. Finally, StockNews.com lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and an average target price of $30.10.

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.

See Also

Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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