Alkermes plc (NASDAQ:ALKS) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,333 shares of the company’s stock after purchasing an additional 3,670 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of Alkermes worth $2,534,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALKS. JPMorgan Chase & Co. acquired a new stake in Alkermes during the 1st quarter worth $4,369,000. Raymond James & Associates boosted its position in shares of Alkermes by 132.4% during the 1st quarter. Raymond James & Associates now owns 32,763 shares of the company’s stock valued at $862,000 after acquiring an additional 18,667 shares during the last quarter. US Bancorp DE boosted its position in shares of Alkermes by 24.0% during the 1st quarter. US Bancorp DE now owns 10,571 shares of the company’s stock valued at $279,000 after acquiring an additional 2,044 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Alkermes during the 1st quarter valued at about $203,000. Finally, Acadian Asset Management LLC boosted its position in shares of Alkermes by 660.7% during the 1st quarter. Acadian Asset Management LLC now owns 21,945 shares of the company’s stock valued at $576,000 after acquiring an additional 19,060 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Down 1.0 %

Shares of NASDAQ:ALKS opened at $23.76 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.86 and a quick ratio of 2.50. The firm has a market capitalization of $4.02 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 0.66 and a beta of 0.55. The firm’s 50-day moving average is $27.90 and its two-hundred day moving average is $27.03. Alkermes plc has a 1 year low of $22.01 and a 1 year high of $33.71.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.29). The business had revenue of $377.50 million for the quarter, compared to analysts’ expectations of $362.78 million. Alkermes had a return on equity of 16.10% and a net margin of 21.39%. The firm’s revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. Analysts predict that Alkermes plc will post 2.23 EPS for the current year.

Alkermes announced that its board has authorized a share buyback program on Thursday, February 15th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALKS. Piper Sandler reissued an “overweight” rating and set a $39.00 price target on shares of Alkermes in a research report on Monday, April 1st. TheStreet raised shares of Alkermes from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Robert W. Baird began coverage on shares of Alkermes in a research report on Tuesday, March 19th. They set an “outperform” rating and a $37.00 price target on the stock. StockNews.com cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 23rd. Finally, Bank of America upped their target price on shares of Alkermes from $27.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.25.

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.