Quantinno Capital Management LP Acquires New Position in Alkermes plc (NASDAQ:ALKS)

Quantinno Capital Management LP acquired a new stake in shares of Alkermes plc (NASDAQ:ALKS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 8,582 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors also recently bought and sold shares of ALKS. Venturi Wealth Management LLC purchased a new stake in Alkermes during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after acquiring an additional 842 shares during the period. Blue Trust Inc. lifted its stake in Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after acquiring an additional 1,629 shares during the period. Smartleaf Asset Management LLC lifted its stake in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after acquiring an additional 2,502 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new position in Alkermes during the 4th quarter valued at about $203,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. HC Wainwright restated a “neutral” rating on shares of Alkermes in a research note on Friday, May 2nd. Wall Street Zen cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. UBS Group restated a “sector perform” rating on shares of Alkermes in a research note on Monday, April 28th. Finally, Royal Bank of Canada increased their price objective on shares of Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Alkermes Trading Down 2.3%

NASDAQ ALKS opened at $29.35 on Tuesday. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $36.45. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 2.20 and a beta of 0.51. The company’s 50 day moving average is $30.13 and its two-hundred day moving average is $30.83.

Alkermes (NASDAQ:ALKS) last released its earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The firm had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. During the same quarter in the previous year, the business posted $0.43 EPS. Alkermes’s revenue was down 12.6% on a year-over-year basis. Sell-side analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

Alkermes Company 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.