Profund Advisors LLC Increases Stake in Alkermes plc (NASDAQ:ALKS)

Profund Advisors LLC increased its position in Alkermes plc (NASDAQ:ALKS) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 50,687 shares of the company’s stock after acquiring an additional 1,054 shares during the quarter. Profund Advisors LLC’s holdings in Alkermes were worth $1,587,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in Alkermes by 121.2% in the 2nd quarter. Signaturefd LLC now owns 854 shares of the company’s stock worth $27,000 after acquiring an additional 468 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in Alkermes in the 2nd quarter worth about $28,000. TCI Wealth Advisors Inc. increased its holdings in Alkermes by 105.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 908 shares of the company’s stock worth $26,000 after acquiring an additional 466 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Alkermes in the 2nd quarter worth about $27,000. Finally, Dark Forest Capital Management LP bought a new position in Alkermes in the 1st quarter worth about $55,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ALKS. JPMorgan Chase & Co. restated a “neutral” rating and issued a $33.00 target price on shares of Alkermes in a research note on Monday. TheStreet upgraded Alkermes from a “c” rating to a “b” rating in a research note on Wednesday, July 26th. Piper Sandler cut their target price on Alkermes from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, October 27th. StockNews.com began coverage on Alkermes in a research note on Saturday. They issued a “buy” rating for the company. Finally, HC Wainwright restated a “neutral” rating and issued a $34.00 target price on shares of Alkermes in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.29.

Alkermes Stock Performance

Shares of ALKS opened at $24.18 on Tuesday. The company has a market cap of $4.04 billion, a PE ratio of 19.50 and a beta of 0.62. The company has a current ratio of 2.91, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $26.81 and a 200-day moving average price of $28.92. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $33.71.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, October 25th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.19. The firm had revenue of $380.94 million during the quarter, compared to the consensus estimate of $366.18 million. Alkermes had a return on equity of 11.41% and a net margin of 13.50%. As a group, equities analysts forecast that Alkermes plc will post 1.11 earnings per share for the current fiscal year.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.