Profund Advisors LLC Has $1.14 Million Holdings in Alkermes plc $ALKS

Profund Advisors LLC grew its position in shares of Alkermes plc (NASDAQ:ALKS) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,869 shares of the company’s stock after buying an additional 2,641 shares during the quarter. Profund Advisors LLC’s holdings in Alkermes were worth $1,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Cerity Partners LLC raised its position in Alkermes by 46.3% during the first quarter. Cerity Partners LLC now owns 26,240 shares of the company’s stock valued at $866,000 after acquiring an additional 8,310 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Alkermes by 103.8% during the 1st quarter. Edgestream Partners L.P. now owns 110,244 shares of the company’s stock worth $3,640,000 after purchasing an additional 56,138 shares during the last quarter. Hohimer Wealth Management LLC raised its holdings in shares of Alkermes by 3.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company’s stock valued at $408,000 after purchasing an additional 450 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Alkermes by 30.9% in the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock valued at $3,995,000 after purchasing an additional 28,596 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Alkermes by 76.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 25,339 shares of the company’s stock worth $837,000 after purchasing an additional 10,966 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

NASDAQ ALKS opened at $33.81 on Wednesday. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45. The stock has a market capitalization of $5.58 billion, a PE ratio of 16.74, a P/E/G ratio of 1.70 and a beta of 0.53. The stock has a 50-day simple moving average of $29.97 and a 200 day simple moving average of $29.50.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The firm had revenue of $394.19 million for the quarter, compared to analyst estimates of $355.23 million. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. As a group, equities research analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

ALKS has been the topic of several recent research reports. The Goldman Sachs Group started coverage on Alkermes in a report on Tuesday, July 15th. They set a “buy” rating and a $43.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Royal Bank Of Canada raised their price objective on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $45.00 price target (up previously from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.23.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total transaction of $273,420.00. Following the transaction, the executive vice president owned 69,740 shares of the company’s stock, valued at approximately $2,118,701.20. The trade was a 11.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

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.