Jennison Associates LLC Has $1.23 Million Holdings in Alkermes plc (NASDAQ:ALKS)

Jennison Associates LLC raised its position in Alkermes plc (NASDAQ:ALKSFree Report) by 24.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 45,371 shares of the company’s stock after purchasing an additional 9,036 shares during the period. Jennison Associates LLC’s holdings in Alkermes were worth $1,228,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GTS Securities LLC raised its position in shares of Alkermes by 27.6% in the 3rd quarter. GTS Securities LLC now owns 38,106 shares of the company’s stock worth $1,067,000 after acquiring an additional 8,243 shares in the last quarter. Diversified Trust Co lifted its position in shares of Alkermes by 29.9% during the 3rd quarter. Diversified Trust Co now owns 40,844 shares of the company’s stock valued at $1,144,000 after acquiring an additional 9,412 shares during the period. Graham Capital Management L.P. bought a new position in Alkermes during the third quarter worth $1,081,000. Deutsche Bank AG boosted its stake in Alkermes by 6.9% during the third quarter. Deutsche Bank AG now owns 217,395 shares of the company’s stock worth $6,089,000 after acquiring an additional 13,945 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Alkermes in the third quarter worth $564,000. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Down 1.4 %

ALKS stock opened at $24.04 on Wednesday. The stock has a fifty day moving average of $24.24 and a 200-day moving average of $26.41. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.49 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.77 and a current ratio of 3.20.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Alkermes from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Jefferies Financial Group increased their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Robert W. Baird initiated coverage on shares of Alkermes in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price objective on the stock. StockNews.com downgraded Alkermes from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $39.00 price objective on shares of Alkermes in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average price target of $36.50.

Get Our Latest Report on ALKS

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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