Axxcess Wealth Management LLC Raises Holdings in Alkermes plc (NASDAQ:ALKS)

Axxcess Wealth Management LLC increased its position in Alkermes plc (NASDAQ:ALKS) by 7.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,274 shares of the company’s stock after acquiring an additional 1,707 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Alkermes were worth $657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ALKS. McGlone Suttner Wealth Management Inc. bought a new position in Alkermes during the fourth quarter worth about $30,000. GAMMA Investing LLC bought a new position in Alkermes in the 4th quarter worth approximately $35,000. Daiwa Securities Group Inc. grew its position in shares of Alkermes by 166.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,761 shares of the company’s stock valued at $49,000 after purchasing an additional 1,100 shares in the last quarter. CWM LLC grew its holdings in Alkermes by 92.8% during the 4th quarter. CWM LLC now owns 1,999 shares of the company’s stock valued at $55,000 after buying an additional 962 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of Alkermes during the 4th quarter valued at $209,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Trading Down 0.6 %

ALKS stock traded down $0.16 on Friday, reaching $27.88. The company’s stock had a trading volume of 2,101,791 shares, compared to its average volume of 1,905,860. The firm has a market cap of $4.72 billion, a PE ratio of 11.05, a PEG ratio of 0.54 and a beta of 0.47. The business has a fifty day simple moving average of $24.35 and a two-hundred day simple moving average of $26.15. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.77 and a current ratio of 3.16.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.70 EPS for the quarter, hitting the consensus estimate of $0.70. The business had revenue of $399.13 million during the quarter, compared to analyst estimates of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The company’s revenue for the quarter was down 35.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. As a group, research analysts forecast that Alkermes plc will post 2.25 EPS for the current year.

Wall Street Analyst Weigh In

ALKS has been the topic of a number of research analyst reports. StockNews.com lowered shares of Alkermes from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Piper Sandler reaffirmed an “overweight” rating and set a $39.00 target price on shares of Alkermes in a report on Monday, April 1st. HC Wainwright increased their target price on Alkermes from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $48.00 price objective on shares of Alkermes in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $36.70.

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.