Axxcess Wealth Management LLC Purchases 1,707 Shares of Alkermes plc (NASDAQ:ALKS)

Axxcess Wealth Management LLC increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,274 shares of the company’s stock after purchasing an additional 1,707 shares during the period. Axxcess Wealth Management LLC’s holdings in Alkermes were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ALKS. Fisher Asset Management LLC increased its position in Alkermes by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 59,942 shares of the company’s stock worth $1,663,000 after buying an additional 572 shares during the period. Victory Capital Management Inc. grew its stake in shares of Alkermes by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 76,718 shares of the company’s stock valued at $2,128,000 after acquiring an additional 675 shares in the last quarter. CWM LLC increased its position in Alkermes by 36.7% during the first quarter. CWM LLC now owns 2,732 shares of the company’s stock worth $74,000 after acquiring an additional 733 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in Alkermes in the 4th quarter worth about $30,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Alkermes by 166.4% in the 4th 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 during the period. 95.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $48.00 target price on shares of Alkermes in a report on Thursday. Jefferies Financial Group lifted their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Robert W. Baird increased their target price on Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday. TD Cowen initiated coverage on Alkermes in a research report on Monday, June 17th. They issued a “buy” rating and a $34.00 price target on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $39.00 price objective on shares of Alkermes in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.70.

Alkermes Price Performance

NASDAQ:ALKS traded down $0.16 during mid-day trading on Friday, reaching $27.88. The stock had a trading volume of 2,101,791 shares, compared to its average volume of 1,905,860. The stock has a 50-day simple moving average of $24.35 and a two-hundred day simple moving average of $26.15. The stock has a market capitalization of $4.72 billion, a PE ratio of 11.05, a P/E/G ratio of 0.54 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.16 and a quick ratio of 2.77. Alkermes plc has a 12 month low of $22.01 and a 12 month high of $32.88.

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 analysts’ consensus estimates of $0.70. The business had revenue of $399.13 million for the quarter, compared to analysts’ expectations of $393.30 million. Alkermes had a net margin of 19.15% and a return on equity of 23.20%. The firm’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. On average, equities analysts anticipate that Alkermes plc will post 2.25 earnings per share for the current year.

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.