Moody Aldrich Partners LLC Has $2.38 Million Stock Position in Alkermes plc (NASDAQ:ALKS)

Moody Aldrich Partners LLC boosted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 36.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,907 shares of the company’s stock after acquiring an additional 22,841 shares during the quarter. Moody Aldrich Partners LLC owned approximately 0.05% of Alkermes worth $2,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. grew its stake in shares of Alkermes by 38.5% during the third quarter. Everence Capital Management Inc. now owns 18,380 shares of the company’s stock valued at $514,000 after purchasing an additional 5,110 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Alkermes during the 3rd quarter worth $29,000. Vontobel Holding Ltd. boosted its position in Alkermes by 128.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company’s stock valued at $1,575,000 after buying an additional 31,687 shares during the last quarter. Creative Planning increased its stake in shares of Alkermes by 51.7% in the 3rd quarter. Creative Planning now owns 50,629 shares of the company’s stock valued at $1,417,000 after buying an additional 17,264 shares during the period. Finally, CWM LLC increased its stake in shares of Alkermes by 83.4% in the 3rd quarter. CWM LLC now owns 14,547 shares of the company’s stock valued at $407,000 after buying an additional 6,615 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Alkermes from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price target on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a research note on Thursday, October 10th. HC Wainwright reiterated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research report on Monday, October 14th. Finally, StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.70.

Alkermes Stock Down 0.3 %

Shares of ALKS stock traded down $0.09 during trading hours on Thursday, hitting $27.76. 3,014,848 shares of the company were exchanged, compared to its average volume of 1,821,101. Alkermes plc has a 52 week low of $22.01 and a 52 week high of $32.88. The company has a current ratio of 2.99, a quick ratio of 2.61 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $27.86 and a two-hundred day moving average of $25.87. The company has a market capitalization of $4.70 billion, a PE ratio of 10.89, a PEG ratio of 0.56 and a beta of 0.46.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. Alkermes had a return on equity of 23.20% and a net margin of 19.15%. The firm had revenue of $399.13 million for the quarter, compared to the consensus estimate of $393.30 million. During the same quarter last year, the business posted $0.38 EPS. The company’s revenue for the quarter was down 35.4% on a year-over-year basis. Analysts anticipate that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

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.