Alkermes plc (NASDAQ:ALKS) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its position in shares of Alkermes plc (NASDAQ:ALKS) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,385,795 shares of the company’s stock after selling 87,395 shares during the quarter. Primecap Management Co. CA owned about 2.00% of Alkermes worth $81,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Alkermes by 421.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after buying an additional 6,730,671 shares during the period. Wellington Management Group LLP boosted its position in shares of Alkermes by 29.8% in the fourth quarter. Wellington Management Group LLP now owns 15,241,470 shares of the company’s stock worth $422,798,000 after buying an additional 3,494,678 shares during the period. RTW Investments LP boosted its position in shares of Alkermes by 338.8% in the fourth quarter. RTW Investments LP now owns 3,901,523 shares of the company’s stock worth $108,228,000 after buying an additional 3,012,450 shares during the period. Vanguard Group Inc. boosted its position in shares of Alkermes by 12.3% in the fourth quarter. Vanguard Group Inc. now owns 20,955,454 shares of the company’s stock worth $581,304,000 after buying an additional 2,288,185 shares during the period. Finally, Norges Bank purchased a new stake in shares of Alkermes in the fourth quarter worth about $55,548,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Trading Down 0.3 %

Shares of NASDAQ ALKS opened at $27.74 on Wednesday. The stock’s 50 day moving average price is $26.80 and its two-hundred day moving average price is $25.82. Alkermes plc has a 52-week low of $22.01 and a 52-week high of $32.88. The stock has a market capitalization of $4.69 billion, a P/E ratio of 10.96, a PEG ratio of 0.56 and a beta of 0.46. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data 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 analysts’ expectations of $393.30 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Alkermes’s revenue for the quarter was down 35.4% compared to the same quarter last year. On average, analysts anticipate that Alkermes plc will post 2.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright upped their target price on Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. TD Cowen began coverage on Alkermes in a report on Monday, June 17th. They issued a “buy” rating and a $34.00 price target for the company. JPMorgan Chase & Co. increased 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. Finally, Robert W. Baird increased their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.70.

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.