Jupiter Asset Management Ltd. Sells 466,678 Shares of Alkermes plc (NASDAQ:ALKS)

Jupiter Asset Management Ltd. cut its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 31.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,019,578 shares of the company’s stock after selling 466,678 shares during the quarter. Jupiter Asset Management Ltd. owned 0.60% of Alkermes worth $27,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALKS. McGlone Suttner Wealth Management Inc. bought a new stake in Alkermes during the fourth quarter worth about $30,000. GAMMA Investing LLC acquired a new stake in shares of Alkermes during the 4th quarter worth approximately $35,000. Daiwa Securities Group Inc. increased its stake in Alkermes by 166.4% in the fourth 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 last quarter. CWM LLC raised its position in Alkermes by 92.8% during the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after purchasing an additional 962 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in Alkermes during the fourth quarter worth $209,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Trading Up 0.7 %

NASDAQ ALKS traded up $0.18 on Friday, reaching $24.83. The company had a trading volume of 1,552,184 shares, compared to its average volume of 1,851,590. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 0.50 and a beta of 0.47. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.88. The business has a 50 day moving average of $24.22 and a two-hundred day moving average of $26.20.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.15). Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The company had revenue of $350.37 million during the quarter, compared to analyst estimates of $360.26 million. During the same period in the previous year, the company posted ($0.10) EPS. The company’s quarterly revenue was up 21.8% on a year-over-year basis. Analysts forecast that Alkermes plc will post 2.25 EPS for the current year.

Analyst Upgrades and Downgrades

ALKS has been the topic of several recent analyst reports. TD Cowen began coverage on Alkermes in a research note on Monday, June 17th. They issued a “buy” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on Alkermes from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Piper Sandler restated an “overweight” rating and issued a $39.00 price target on shares of Alkermes in a research note on Monday, April 1st. HC Wainwright reiterated a “neutral” rating and set a $35.00 price objective on shares of Alkermes in a research report on Tuesday, June 4th. Finally, StockNews.com lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.30.

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.