Rhumbline Advisers Buys 1,248 Shares of Alkermes plc (NASDAQ:ALKS)

Rhumbline Advisers lifted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,285 shares of the company’s stock after acquiring an additional 1,248 shares during the period. Rhumbline Advisers owned approximately 0.14% of Alkermes worth $6,464,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Fisher Asset Management LLC increased its position in shares of Alkermes by 0.3% during the first quarter. Fisher Asset Management LLC now owns 131,877 shares of the company’s stock worth $3,718,000 after acquiring an additional 449 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in Alkermes by 105.4% in the first quarter. TCI Wealth Advisors Inc. now owns 908 shares of the company’s stock valued at $26,000 after purchasing an additional 466 shares in the last quarter. Alliancebernstein L.P. grew its position in Alkermes by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 195,581 shares of the company’s stock valued at $5,111,000 after purchasing an additional 500 shares in the last quarter. Franklin Resources Inc. grew its position in Alkermes by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 86,947 shares of the company’s stock valued at $2,272,000 after purchasing an additional 544 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Alkermes by 4.3% in the fourth quarter. Captrust Financial Advisors now owns 13,402 shares of the company’s stock valued at $350,000 after purchasing an additional 555 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of Alkermes stock opened at $29.52 on Thursday. Alkermes plc has a twelve month low of $21.75 and a twelve month high of $33.71. The company has a quick ratio of 2.48, a current ratio of 2.87 and a debt-to-equity ratio of 0.23. The company has a 50-day simple moving average of $29.41 and a two-hundred day simple moving average of $29.28. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 51.79 and a beta of 0.60.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, July 26th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.28 by $0.10. The firm had revenue of $617.40 million for the quarter, compared to analyst estimates of $572.57 million. Alkermes had a net margin of 7.04% and a return on equity of 2.33%. Analysts forecast that Alkermes plc will post 0.94 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ALKS. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Alkermes in a research report on Monday, July 10th. Mizuho raised their target price on shares of Alkermes from $36.00 to $40.00 in a research report on Wednesday, June 7th. StockNews.com downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. TheStreet raised shares of Alkermes from a “c” rating to a “b” rating in a research report on Wednesday, July 26th. Finally, Piper Sandler lifted their price objective on shares of Alkermes from $35.00 to $37.00 in a research report on Wednesday, June 7th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.33.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.