Mutual of America Capital Management LLC Purchases 56,141 Shares of Alkermes plc (NASDAQ:ALKS)

Mutual of America Capital Management LLC grew its position in Alkermes plc (NASDAQ:ALKS) by 87.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 119,976 shares of the company’s stock after buying an additional 56,141 shares during the period. Mutual of America Capital Management LLC’s holdings in Alkermes were worth $3,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Alkermes by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 18,667,269 shares of the company’s stock valued at $522,870,000 after acquiring an additional 72,797 shares during the period. BlackRock Inc. grew its position in shares of Alkermes by 1.2% in the 1st quarter. BlackRock Inc. now owns 16,621,253 shares of the company’s stock valued at $468,553,000 after acquiring an additional 197,079 shares during the period. Wellington Management Group LLP grew its position in shares of Alkermes by 52.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock valued at $329,028,000 after acquiring an additional 4,055,926 shares during the period. State Street Corp grew its position in shares of Alkermes by 9.4% in the 3rd quarter. State Street Corp now owns 6,467,201 shares of the company’s stock valued at $144,413,000 after acquiring an additional 556,097 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Alkermes by 1.2% in the 1st quarter. Renaissance Technologies LLC now owns 4,868,013 shares of the company’s stock valued at $128,077,000 after acquiring an additional 57,068 shares during the period. Institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ALKS. TheStreet raised shares of Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price for the company. in a report on Tuesday, February 20th. Jefferies Financial Group lifted their target price on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Bank of America lifted their target price on shares of Alkermes from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Finally, StockNews.com downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.25.

Alkermes Stock Performance

NASDAQ ALKS opened at $24.01 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.86 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $4.06 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.66 and a beta of 0.55. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $33.71. The firm has a 50-day moving average price of $27.96 and a two-hundred day moving average price of $27.05.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.29). The business had revenue of $377.50 million during the quarter, compared to the consensus estimate of $362.78 million. Alkermes had a net margin of 21.39% and a return on equity of 16.10%. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. Analysts anticipate that Alkermes plc will post 2.23 earnings per share for the current year.

Alkermes declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 15th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the completion of the sale, the senior vice president now owns 65,911 shares of the company’s stock, valued at approximately $1,852,099.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.76% of the company’s stock.

Alkermes Profile

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.