Burney Co. Trims Stock Position in Alkermes plc (NASDAQ:ALKS)

Burney Co. cut its stake in Alkermes plc (NASDAQ:ALKS) by 6.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,349 shares of the company’s stock after selling 1,528 shares during the period. Burney Co.’s holdings in Alkermes were worth $515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in Alkermes in the fourth quarter valued at $35,000. Hexagon Capital Partners LLC increased its stake in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares during the period. CWM LLC increased its stake in shares of Alkermes by 92.8% during the fourth quarter. CWM LLC now owns 1,999 shares of the company’s stock worth $55,000 after acquiring an additional 962 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of Alkermes during the fourth quarter worth about $209,000. Finally, TFO Wealth Partners LLC increased its stake in shares of Alkermes by 71,354.5% during the fourth quarter. TFO Wealth Partners LLC now owns 7,860 shares of the company’s stock worth $218,000 after acquiring an additional 7,849 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Price Performance

Shares of NASDAQ ALKS traded up $0.28 on Thursday, hitting $28.35. The company’s stock had a trading volume of 1,482,764 shares, compared to its average volume of 1,850,280. Alkermes plc has a 12-month low of $22.01 and a 12-month high of $32.88. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.56 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.99 and a quick ratio of 2.61. The stock has a 50 day moving average of $25.92 and a 200-day moving average of $26.08.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results 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 net margin of 19.15% and a return on equity of 23.20%. The company had revenue of $399.13 million for the quarter, compared to the consensus estimate of $393.30 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was down 35.4% compared to the same quarter last year. As a group, research analysts predict that Alkermes plc will post 2.36 EPS for the current year.

Analysts Set New Price Targets

ALKS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Alkermes from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. TD Cowen started coverage on shares of Alkermes in a research note on Monday, June 17th. They set a “buy” rating and a $34.00 price target on the stock. Robert W. Baird upped their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. HC Wainwright upped their target price on shares of Alkermes from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $48.00 target price on shares of Alkermes in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.