Wedge Capital Management L L P NC Increases Holdings in Alkermes plc (NASDAQ:ALKS)

Wedge Capital Management L L P NC lifted its holdings in Alkermes plc (NASDAQ:ALKS) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,516 shares of the company’s stock after acquiring an additional 5,607 shares during the period. Wedge Capital Management L L P NC’s holdings in Alkermes were worth $3,880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new stake in Alkermes in the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares during the period. Blue Trust Inc. lifted its stake in shares of Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after acquiring an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after acquiring an additional 2,502 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in Alkermes during the 4th quarter valued at $98,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 1.8%

Shares of NASDAQ:ALKS opened at $31.14 on Tuesday. Alkermes plc has a 52-week low of $22.90 and a 52-week high of $36.45. The stock has a market cap of $5.14 billion, a P/E ratio of 14.35, a PEG ratio of 2.20 and a beta of 0.47. The business has a fifty day moving average of $29.59 and a two-hundred day moving average of $31.00.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). The firm had revenue of $306.51 million for 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 firm’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. On average, equities analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALKS. Robert W. Baird lifted their target price on Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Needham & Company LLC initiated coverage on shares of Alkermes in a research note on Wednesday, May 28th. They issued a “buy” rating and a $45.00 price target on the stock. Cantor Fitzgerald raised shares of Alkermes to a “strong-buy” rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Finally, Royal Bank of Canada raised their target price on shares of Alkermes from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, May 2nd. Four research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.85.

Alkermes 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.