First Trust Advisors LP Buys 163,251 Shares of Alkermes plc (NASDAQ:ALKS)

First Trust Advisors LP boosted its position in shares of Alkermes plc (NASDAQ:ALKSFree Report) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,651,040 shares of the company’s stock after acquiring an additional 163,251 shares during the period. First Trust Advisors LP owned 0.99% of Alkermes worth $45,800,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ALKS. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Alkermes during the 4th quarter valued at $30,000. GAMMA Investing LLC bought a new stake in Alkermes during the fourth quarter valued at about $35,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Alkermes in the third quarter valued at about $37,000. Daiwa Securities Group Inc. boosted its stake in shares of Alkermes by 166.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock worth $49,000 after acquiring an additional 1,100 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Alkermes during the third quarter worth about $53,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group upped their price target on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. Cantor Fitzgerald raised their price objective on Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Finally, HC Wainwright reiterated a “neutral” rating and issued a $35.00 target price on shares of Alkermes in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from, Alkermes presently has an average rating of “Hold” and a consensus price target of $36.78.

Get Our Latest Report on Alkermes

Alkermes Trading Down 1.0 %

ALKS opened at $23.91 on Friday. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $33.71. The company has a current ratio of 3.20, a quick ratio of 2.77 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $24.50 and a 200 day moving average of $26.61. The firm has a market cap of $4.05 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.49 and a beta of 0.47.

Alkermes (NASDAQ:ALKSGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.15). The company had revenue of $350.37 million for the quarter, compared to the consensus estimate of $360.26 million. Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, research analysts forecast that Alkermes plc will post 2.27 EPS for the current year.

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

Insider Activity

In related news, SVP Christian Todd Nichols sold 10,417 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total transaction of $292,717.70. Following the transaction, the senior vice president now directly owns 65,911 shares in the company, valued at approximately $1,852,099.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.89% of the company’s stock.

About Alkermes

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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