Measured Wealth Private Client Group LLC Makes New $209,000 Investment in Alkermes plc (NASDAQ:ALKS)

Measured Wealth Private Client Group LLC purchased a new position in Alkermes plc (NASDAQ:ALKS) in the 4th quarter, Holdings Channel.com reports. The fund purchased 7,534 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds have also added to or reduced their stakes in ALKS. CWM LLC lifted its stake in Alkermes by 147.5% in the third quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after purchasing an additional 618 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Alkermes during the third quarter valued at about $387,000. Raymond James & Associates raised its stake in shares of Alkermes by 32.4% during the third quarter. Raymond James & Associates now owns 26,592 shares of the company’s stock valued at $745,000 after acquiring an additional 6,510 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alkermes by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 2,761,316 shares of the company’s stock valued at $77,344,000 after acquiring an additional 106,749 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alkermes by 7.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,366 shares of the company’s stock valued at $823,000 after acquiring an additional 2,082 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 10,417 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the sale, the senior vice president now owns 65,911 shares in the company, valued at $1,852,099.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.76% of the company’s stock.

Alkermes Stock Up 0.8 %

ALKS traded up $0.19 during midday trading on Friday, reaching $24.05. The company’s stock had a trading volume of 1,347,148 shares, compared to its average volume of 1,980,594. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.69 and a beta of 0.61. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 0.23. Alkermes plc has a 1 year low of $22.01 and a 1 year high of $33.71. The stock’s 50-day moving average is $26.73 and its 200-day moving average is $26.73.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). The business had revenue of $350.37 million during the quarter, compared to analysts’ expectations of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. Alkermes’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. As a group, research analysts expect that Alkermes plc will post 2.39 EPS for the current year.

Alkermes announced that its board has approved a share buyback plan on Thursday, February 15th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com downgraded shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Alkermes in a research note on Monday, April 1st. Jefferies Financial Group boosted their price target on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. HC Wainwright reiterated a “neutral” rating and set a $35.00 price target on shares of Alkermes in a research report on Thursday. Finally, TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $35.38.

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.