LSV Asset Management Buys Shares of 117,000 Alkermes plc (NASDAQ:ALKS)

LSV Asset Management purchased a new position in shares of Alkermes plc (NASDAQ:ALKS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 117,000 shares of the company’s stock, valued at approximately $3,246,000. LSV Asset Management owned approximately 0.07% of Alkermes at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Alkermes by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 18,667,269 shares of the company’s stock valued at $522,870,000 after purchasing an additional 72,797 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Alkermes by 52.7% in the 3rd quarter. Wellington Management Group LLP now owns 11,746,792 shares of the company’s stock valued at $329,028,000 after purchasing an additional 4,055,926 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alkermes by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,761,316 shares of the company’s stock valued at $77,344,000 after purchasing an additional 106,749 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Alkermes by 5.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,162,198 shares of the company’s stock worth $60,563,000 after purchasing an additional 114,388 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Alkermes by 0.8% in the 3rd quarter. Northern Trust Corp now owns 1,688,887 shares of the company’s stock valued at $47,306,000 after purchasing an additional 13,545 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $292,717.70. Following the transaction, the senior vice president now owns 65,911 shares in the company, valued at $1,852,099.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.76% of the stock is owned by insiders.

Alkermes Stock Performance

Shares of Alkermes stock opened at $24.10 on Thursday. The company has a market cap of $4.08 billion, a P/E ratio of 9.53, a PEG ratio of 0.64 and a beta of 0.61. The company has a current ratio of 3.20, a quick ratio of 2.77 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $26.39 and a two-hundred day moving average price of $26.68. Alkermes plc has a 1-year low of $22.01 and a 1-year high of $33.71.

Alkermes (NASDAQ:ALKS) last issued its 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 business had revenue of $350.37 million during the quarter, compared to the consensus estimate of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. As a group, analysts anticipate that Alkermes plc will post 2.39 EPS for the current year.

Alkermes declared that its Board of Directors has initiated a share repurchase program on Thursday, February 15th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

ALKS has been the subject of a number of research reports. Robert W. Baird assumed coverage on Alkermes in a research note on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 price target for the company. Jefferies Financial Group upped their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler reiterated an “overweight” rating and set a $39.00 target price on shares of Alkermes in a research report on Monday, April 1st. TheStreet upgraded shares of Alkermes from a “c+” rating to a “b” rating in a research report on Thursday, February 15th. Finally, StockNews.com lowered shares of Alkermes from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.38.

Alkermes Company 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.