Measured Wealth Private Client Group LLC Takes $209,000 Position in Alkermes plc (NASDAQ:ALKS)

Measured Wealth Private Client Group LLC purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 7,534 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors have also made changes to their positions in the company. Todd Asset Management LLC lifted its holdings in shares of Alkermes by 10.7% during the 4th quarter. Todd Asset Management LLC now owns 123,048 shares of the company’s stock valued at $3,413,000 after buying an additional 11,882 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of Alkermes by 10.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 22,567 shares of the company’s stock valued at $626,000 after buying an additional 2,142 shares during the last quarter. LSV Asset Management acquired a new stake in Alkermes in the 4th quarter worth approximately $3,246,000. Amalgamated Bank lifted its holdings in Alkermes by 181.7% in the 4th quarter. Amalgamated Bank now owns 71,364 shares of the company’s stock worth $1,980,000 after purchasing an additional 46,027 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in Alkermes by 23.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 23,401 shares of the company’s stock worth $649,000 after purchasing an additional 4,420 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

ALKS stock traded up $0.19 during trading on Friday, hitting $24.05. The company had a trading volume of 1,347,148 shares, compared to its average volume of 1,980,594. The company has a fifty day moving average price of $26.73 and a two-hundred day moving average price of $26.73. The company has a current ratio of 3.20, a quick ratio of 2.50 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.07 billion, a P/E ratio of 9.51, a P/E/G ratio of 0.69 and a beta of 0.61. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $33.71.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.43 EPS 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 analyst estimates of $360.26 million. Alkermes had a return on equity of 20.31% and a net margin of 25.17%. Alkermes’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. Equities research analysts expect that Alkermes plc will post 2.39 earnings per share for the current fiscal year.

Alkermes declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is 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 on Monday, March 18th. The stock was sold at an average price of $28.10, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.76% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ALKS. Piper Sandler restated an “overweight” rating and issued a $39.00 target price on shares of Alkermes in a report on Monday, April 1st. Robert W. Baird began coverage on Alkermes in a report on Tuesday, March 19th. They issued an “outperform” rating and a $37.00 target price for the company. Jefferies Financial Group boosted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. UBS Group lowered Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 target price for the company. in a report on Tuesday, February 20th. Finally, StockNews.com downgraded Alkermes from a “buy” rating to a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.