GAMMA Investing LLC Grows Position in Alkermes plc (NASDAQ:ALKS)

GAMMA Investing LLC increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 4,255.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 178,176 shares of the company’s stock after acquiring an additional 174,085 shares during the period. GAMMA Investing LLC owned about 0.11% of Alkermes worth $5,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alkermes by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company’s stock worth $2,877,000 after buying an additional 311 shares during the last quarter. CIBC Asset Management Inc raised its stake in Alkermes by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock valued at $263,000 after purchasing an additional 384 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Alkermes by 3.9% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company’s stock worth $408,000 after acquiring an additional 532 shares during the last quarter. Sei Investments Co. increased its position in shares of Alkermes by 1.1% during the 4th quarter. Sei Investments Co. now owns 75,394 shares of the company’s stock worth $2,168,000 after purchasing an additional 828 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Alkermes by 106.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after purchasing an additional 842 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALKS. Cantor Fitzgerald upgraded Alkermes to a “strong-buy” rating in a research note on Tuesday, May 13th. Needham & Company LLC began coverage on Alkermes in a research note on Wednesday, May 28th. They issued a “buy” rating and a $45.00 price target on the stock. UBS Group restated a “sector perform” rating on shares of Alkermes in a research report on Monday, April 28th. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.85.

Alkermes Stock Down 1.8%

Shares of Alkermes stock opened at $31.14 on Tuesday. The stock’s fifty day moving average is $29.59 and its 200-day moving average is $31.00. The firm has a market capitalization of $5.14 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.19). The firm had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share. Analysts expect 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.