Alkermes plc $ALKS Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. lessened its stake in Alkermes plc (NASDAQ:ALKS) by 56.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,521 shares of the company’s stock after selling 19,207 shares during the period. Fox Run Management L.L.C.’s holdings in Alkermes were worth $415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Savant Capital LLC lifted its stake in shares of Alkermes by 30.3% in the 2nd quarter. Savant Capital LLC now owns 12,660 shares of the company’s stock valued at $362,000 after purchasing an additional 2,947 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in Alkermes during the second quarter valued at $516,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Alkermes in the second quarter valued at $49,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Alkermes in the second quarter worth about $3,605,000. Finally, Bank of Montreal Can raised its position in shares of Alkermes by 2.8% in the second quarter. Bank of Montreal Can now owns 28,856 shares of the company’s stock worth $826,000 after acquiring an additional 799 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALKS shares. Zacks Research upgraded Alkermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Jefferies Financial Group set a $56.00 price objective on Alkermes and gave the company a “buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th. Finally, Mizuho lifted their price target on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.23.

Alkermes Trading Down 7.1%

NASDAQ:ALKS opened at $31.41 on Thursday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The stock has a 50 day moving average of $29.99 and a two-hundred day moving average of $29.51. The firm has a market cap of $5.19 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53.

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

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes 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 sale, the executive vice president owned 69,740 shares of the company’s stock, valued at $2,118,701.20. The trade was a 11.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.