Bayesian Capital Management LP Invests $333,000 in Alkermes plc (NASDAQ:ALKS)

Bayesian Capital Management LP purchased a new position in shares of Alkermes plc (NASDAQ:ALKS) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,300 shares of the company’s stock, valued at approximately $333,000.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new position in shares of Alkermes during the fourth quarter worth $35,000. Daiwa Securities Group Inc. increased its position in shares of Alkermes by 166.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after acquiring an additional 1,100 shares during the period. CWM LLC increased its position in shares of Alkermes by 92.8% in the 4th quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after acquiring an additional 962 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Alkermes in the 4th quarter valued at $209,000. Finally, TFO Wealth Partners LLC increased its position in shares of Alkermes by 71,354.5% in the 4th quarter. TFO Wealth Partners LLC now owns 7,860 shares of the company’s stock valued at $218,000 after acquiring an additional 7,849 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Trading Down 1.1 %

ALKS stock opened at $27.32 on Thursday. The firm has a market cap of $4.62 billion, a P/E ratio of 10.80, a PEG ratio of 0.58 and a beta of 0.47. Alkermes plc has a 52-week low of $22.01 and a 52-week high of $32.88. The company’s 50-day simple moving average is $24.62 and its 200-day simple moving average is $26.11. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.70. The firm had revenue of $399.13 million for the quarter, compared to analyst estimates of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. Alkermes’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. As a group, equities analysts forecast that Alkermes plc will post 2.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $48.00 target price on shares of Alkermes in a research report on Thursday, July 25th. Jefferies Financial Group increased their price target on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, TD Cowen began coverage on Alkermes in a research report on Monday, June 17th. They set a “buy” rating and a $34.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.70.

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.