Todd Asset Management LLC Increases Holdings in Alkermes plc (NASDAQ:ALKS)

Todd Asset Management LLC increased its stake in shares of Alkermes plc (NASDAQ:ALKS) by 10.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 123,048 shares of the company’s stock after purchasing an additional 11,882 shares during the period. Todd Asset Management LLC owned 0.07% of Alkermes worth $3,413,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ALKS. CWM LLC raised its position in shares of Alkermes by 147.5% in the third quarter. CWM LLC now owns 1,037 shares of the company’s stock worth $29,000 after buying an additional 618 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Alkermes during the 3rd quarter valued at about $387,000. Raymond James & Associates grew its holdings in shares of Alkermes by 32.4% during the third quarter. Raymond James & Associates now owns 26,592 shares of the company’s stock worth $745,000 after purchasing an additional 6,510 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Alkermes by 4.0% in the third quarter. Bank of New York Mellon Corp now owns 2,761,316 shares of the company’s stock worth $77,344,000 after purchasing an additional 106,749 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Alkermes by 7.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,366 shares of the company’s stock valued at $823,000 after purchasing an additional 2,082 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 0.8 %

ALKS traded up $0.19 during midday trading on Friday, reaching $24.05. 1,347,148 shares of the company’s stock traded hands, compared to its average volume of 1,980,594. Alkermes plc has a 52 week low of $22.01 and a 52 week high of $33.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.20 and a quick ratio of 2.50. The firm has a fifty day moving average of $26.73 and a two-hundred day moving average of $26.74. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 9.51, a P/E/G ratio of 0.68 and a beta of 0.61.

Alkermes (NASDAQ:ALKS) last announced 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). The business had revenue of $350.37 million for the quarter, compared to the consensus estimate of $360.26 million. Alkermes had a net margin of 25.17% and a return on equity of 20.31%. Alkermes’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) EPS. On average, equities analysts anticipate that Alkermes plc will post 2.22 earnings per share for the current fiscal year.

Alkermes declared that its board has approved a share buyback plan on Thursday, February 15th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 10,417 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $28.10, for a total value of $292,717.70. Following the completion of the transaction, the senior vice president now directly 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 this link. Corporate insiders own 4.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALKS shares. Jefferies Financial Group lifted their price target on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Piper Sandler reaffirmed an “overweight” rating and set a $39.00 target price on shares of Alkermes in a report on Monday, April 1st. UBS Group downgraded shares of Alkermes from a “neutral” rating to a “sell” rating and set a $25.00 price target for the company. in a research note on Tuesday, February 20th. StockNews.com lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Friday. Finally, TheStreet upgraded Alkermes from a “c+” rating to a “b” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.38.

Alkermes 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.