Jacobs Levy Equity Management Inc. Trims Position in Alkermes plc (NASDAQ:ALKS)

Jacobs Levy Equity Management Inc. decreased its position in shares of Alkermes plc (NASDAQ:ALKS) by 0.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,252,300 shares of the company’s stock after selling 3,738 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.74% of Alkermes worth $33,900,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ALKS. Vanguard Group Inc. raised its holdings in Alkermes by 12.3% during the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock valued at $581,304,000 after acquiring an additional 2,288,185 shares during the period. Wellington Management Group LLP raised its stake in Alkermes by 29.8% during the 4th quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock valued at $422,798,000 after purchasing an additional 3,494,678 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alkermes by 421.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock valued at $225,393,000 after purchasing an additional 6,730,671 shares during the period. RTW Investments LP lifted its holdings in Alkermes by 338.8% in the 4th quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock worth $108,228,000 after purchasing an additional 3,012,450 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Alkermes by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,403,195 shares of the company’s stock worth $66,666,000 after purchasing an additional 90,219 shares during the period. Institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

ALKS has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $48.00 price objective on shares of Alkermes in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and set a $39.00 price objective on shares of Alkermes in a report on Monday, April 1st. Jefferies Financial Group lifted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, HC Wainwright boosted their target price on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.70.

Alkermes Trading Down 1.0 %

ALKS traded down $0.29 on Tuesday, hitting $27.63. The company had a trading volume of 1,501,092 shares, compared to its average volume of 1,900,104. The business’s fifty day simple moving average is $24.50 and its 200 day simple moving average is $26.10. 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 plc has a 12-month low of $22.01 and a 12-month high of $32.88. The company has a market cap of $4.55 billion, a PE ratio of 10.92, a PEG ratio of 0.55 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The company’s revenue for the quarter was down 35.4% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. Equities research analysts expect that Alkermes plc will post 2.51 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.