Alkermes plc $ALKS Holdings Lifted by TD Asset Management Inc

TD Asset Management Inc increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,442 shares of the company’s stock after buying an additional 10,800 shares during the quarter. TD Asset Management Inc owned 0.13% of Alkermes worth $6,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Twin Tree Management LP purchased a new position in shares of Alkermes during the first quarter valued at $29,000. Armstrong Advisory Group Inc. purchased a new position in shares of Alkermes during the second quarter valued at $29,000. Brooklyn Investment Group grew its holdings in shares of Alkermes by 1,071.1% during the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after buying an additional 964 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after buying an additional 385 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Alkermes by 54.4% during the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock valued at $49,000 after buying an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, September 3rd. The Goldman Sachs Group started coverage on Alkermes in a research note on Tuesday, July 15th. They issued a “buy” rating and a $43.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Finally, HC Wainwright restated a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total transaction of $283,770.00. Following the completion of the sale, the executive vice president owned 73,740 shares in the company, valued at approximately $2,325,022.20. This represents a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.40% of the company’s stock.

Alkermes Stock Performance

ALKS opened at $30.26 on Monday. The company has a market cap of $5.00 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.63 and a beta of 0.54. The stock has a 50-day moving average of $29.13 and a 200-day moving average of $29.09. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, research analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.

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.