Wedge Capital Management L L P NC Acquires 5,607 Shares of Alkermes plc (NASDAQ:ALKS)

Wedge Capital Management L L P NC raised its holdings in Alkermes plc (NASDAQ:ALKS) by 5.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,516 shares of the company’s stock after buying an additional 5,607 shares during the quarter. Wedge Capital Management L L P NC owned 0.07% of Alkermes worth $3,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALKS. Blue Trust Inc. raised its holdings in shares of Alkermes by 2,394.5% during the fourth quarter. Blue Trust Inc. now owns 1,821 shares of the company’s stock valued at $51,000 after purchasing an additional 1,748 shares during the period. Choreo LLC increased its position in Alkermes by 18.7% in the 4th quarter. Choreo LLC now owns 23,722 shares of the company’s stock valued at $683,000 after buying an additional 3,737 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Alkermes by 37.6% during the 4th quarter. Bleakley Financial Group LLC now owns 15,849 shares of the company’s stock worth $456,000 after buying an additional 4,335 shares during the period. Savant Capital LLC raised its stake in Alkermes by 11.6% during the 4th quarter. Savant Capital LLC now owns 11,075 shares of the company’s stock worth $319,000 after buying an additional 1,152 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Alkermes by 31.0% in the fourth quarter. Van ECK Associates Corp now owns 137,567 shares of the company’s stock worth $3,956,000 after acquiring an additional 32,581 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Price Performance

ALKS stock opened at $31.14 on Tuesday. Alkermes plc has a 1 year low of $22.90 and a 1 year high of $36.45. The firm has a 50-day moving average of $29.59 and a 200 day moving average of $31.00. The company 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.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). The business had revenue of $306.51 million for the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The business’s quarterly revenue was down 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. On average, equities research analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALKS has been the subject of several recent research reports. HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Cantor Fitzgerald upgraded shares of Alkermes to a “strong-buy” rating in a report on Tuesday, May 13th. Royal Bank of Canada raised their price objective on shares of Alkermes from $39.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 5th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.85.

About Alkermes

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.