Cwm LLC Boosts Holdings in Alkermes plc (NASDAQ:ALKS)

Cwm LLC lifted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 92.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,999 shares of the company’s stock after acquiring an additional 962 shares during the period. Cwm LLC’s holdings in Alkermes were worth $55,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Emerald Advisers LLC purchased a new position in Alkermes during the third quarter worth approximately $27,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Alkermes in the 4th quarter worth $30,000. C M Bidwell & Associates Ltd. acquired a new position in Alkermes in the third quarter valued at $37,000. Daiwa Securities Group Inc. grew its position in Alkermes by 166.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after acquiring an additional 1,100 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Alkermes during the third quarter worth about $53,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALKS has been the topic of several research analyst reports. TheStreet raised Alkermes from a “c+” rating to a “b” rating in a research note on Thursday, February 15th. HC Wainwright reissued a “neutral” rating and issued a $35.00 target price on shares of Alkermes in a research note on Thursday, May 2nd. UBS Group cut shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price target for the company. in a research report on Tuesday, February 20th. StockNews.com lowered Alkermes from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $39.00 target price on shares of Alkermes in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of “Hold” and a consensus price target of $35.38.

Alkermes Trading Down 2.0 %

Shares of ALKS opened at $24.10 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.77 and a current ratio of 3.20. Alkermes plc has a one year low of $22.01 and a one year high of $33.71. The stock has a 50-day moving average price of $26.39 and a 200 day moving average price of $26.68. The company has a market capitalization of $4.08 billion, a P/E ratio of 9.53, a P/E/G ratio of 0.64 and a beta of 0.61.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results 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 company had revenue of $350.37 million for the quarter, compared to analyst estimates of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) EPS. Sell-side analysts forecast that Alkermes plc will post 2.39 EPS for the current fiscal year.

Alkermes declared that its Board of Directors has initiated a stock 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 typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Alkermes

In other news, SVP Christian Todd Nichols sold 10,417 shares of the 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 transaction, the senior vice president now owns 65,911 shares of the company’s stock, valued at $1,852,099.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.76% of the company’s stock.

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.