Guidance Capital Inc. Makes New Investment in Alkermes plc (NASDAQ:ALKS)

Guidance Capital Inc. purchased a new position in shares of Alkermes plc (NASDAQ:ALKS) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,826 shares of the company’s stock, valued at approximately $428,000.

Several other institutional investors have also recently made changes to their positions in ALKS. FMR LLC increased its position in Alkermes by 3.4% during the 3rd quarter. FMR LLC now owns 1,311,009 shares of the company’s stock valued at $36,721,000 after purchasing an additional 42,748 shares during the period. Hsbc Holdings PLC increased its holdings in Alkermes by 143.7% during the third quarter. Hsbc Holdings PLC now owns 91,971 shares of the company’s stock valued at $2,592,000 after buying an additional 54,231 shares during the period. Northern Trust Corp raised its stake in Alkermes by 0.8% in the third quarter. Northern Trust Corp now owns 1,688,887 shares of the company’s stock worth $47,306,000 after buying an additional 13,545 shares in the last quarter. Natixis Advisors L.P. bought a new position in Alkermes in the third quarter worth approximately $1,736,000. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Alkermes by 21.7% during the third quarter. O Shaughnessy Asset Management LLC now owns 12,088 shares of the company’s stock worth $339,000 after buying an additional 2,152 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

ALKS has been the subject of a number of analyst reports. Robert W. Baird started coverage on Alkermes in a research note on Tuesday, March 19th. They set an “outperform” rating and a $37.00 price objective for the company. Jefferies Financial Group increased their price target on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. TD Cowen began coverage on shares of Alkermes in a research report on Monday, June 17th. They issued a “buy” rating and a $34.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and set a $39.00 price objective on shares of Alkermes in a research note on Monday, April 1st. Finally, Cantor Fitzgerald raised their target price on shares of Alkermes from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Alkermes Stock Performance

ALKS traded down $0.19 on Friday, reaching $24.10. 3,405,843 shares of the stock were exchanged, compared to its average volume of 2,020,961. The company’s 50-day moving average price is $24.28 and its 200 day moving average price is $26.57. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.77. The firm has a market capitalization of $4.08 billion, a PE ratio of 9.53, a PEG ratio of 0.49 and a beta of 0.47. Alkermes plc has a fifty-two week low of $22.01 and a fifty-two week high of $32.89.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, May 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.15). Alkermes had a net margin of 25.17% and a return on equity of 20.31%. The firm had revenue of $350.37 million during the quarter, compared to analysts’ expectations of $360.26 million. During the same quarter in the prior year, the company earned ($0.10) EPS. Alkermes’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, sell-side analysts forecast that Alkermes plc will post 2.27 EPS for the current fiscal year.

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.