Credit Suisse AG Has $4.01 Million Stake in Alkermes plc (NASDAQ:ALKS)

Credit Suisse AG grew its position in Alkermes plc (NASDAQ:ALKS – Get Rating) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,635 shares of the company’s stock after purchasing an additional 4,230 shares during the quarter. Credit Suisse AG owned about 0.11% of Alkermes worth $4,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALKS. BlackRock Inc. grew its position in Alkermes by 5.8% during the first quarter. BlackRock Inc. now owns 15,080,046 shares of the company’s stock worth $396,756,000 after buying an additional 827,759 shares in the last quarter. State Street Corp boosted its holdings in shares of Alkermes by 2.3% in the 2nd quarter. State Street Corp now owns 5,911,104 shares of the company’s stock valued at $176,092,000 after purchasing an additional 131,205 shares in the last quarter. Hardman Johnston Global Advisors LLC boosted its holdings in shares of Alkermes by 7.0% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 5,734,259 shares of the company’s stock valued at $128,046,000 after purchasing an additional 376,543 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Alkermes by 9.3% in the 2nd quarter. Renaissance Technologies LLC now owns 5,322,613 shares of the company’s stock valued at $158,561,000 after purchasing an additional 454,600 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Alkermes by 16.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,285,081 shares of the company’s stock valued at $60,121,000 after purchasing an additional 316,115 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALKS. StockNews.com cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 2nd. Piper Sandler upgraded Alkermes from a “neutral” rating to an “overweight” rating and increased their price target for the company from $26.00 to $30.00 in a research note on Thursday, November 3rd. Mizuho raised their target price on Alkermes from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, November 22nd. Stifel Nicolaus raised their target price on Alkermes to $30.00 in a research report on Thursday, February 16th. Finally, JPMorgan Chase & Co. lowered their target price on Alkermes from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, December 6th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.11.

Alkermes Stock Performance

Shares of ALKS opened at $26.74 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.27 and a quick ratio of 1.91. The stock has a 50-day moving average of $27.15 and a 200-day moving average of $24.99. The company has a market cap of $4.40 billion, a PE ratio of -27.85 and a beta of 0.59. Alkermes plc has a one year low of $21.75 and a one year high of $32.79.

Alkermes (NASDAQ:ALKS – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.05 by $0.09. The company had revenue of $304.70 million during the quarter, compared to the consensus estimate of $289.80 million. Alkermes had a negative return on equity of 3.32% and a negative net margin of 14.23%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. On average, equities research analysts predict that Alkermes plc will post -0.5 EPS for the current fiscal year.

About Alkermes

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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.