Alkermes plc $ALKS Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 10.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,061 shares of the company’s stock after selling 1,683 shares during the quarter. Bleakley Financial Group LLC’s holdings in Alkermes were worth $402,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC lifted its holdings in shares of Alkermes by 25.6% in the first quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock valued at $2,825,000 after buying an additional 17,413 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Alkermes in the first quarter valued at $587,000. Victory Capital Management Inc. lifted its holdings in shares of Alkermes by 30.9% in the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock valued at $3,995,000 after buying an additional 28,596 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Alkermes by 31.9% in the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock valued at $178,000 after buying an additional 1,305 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Alkermes by 2,422.0% in the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock valued at $29,100,000 after buying an additional 846,861 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALKS. HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Wednesday. Royal Bank Of Canada upped their price objective on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective (up previously from $38.00) on shares of Alkermes in a report on Thursday. Zacks Research upgraded Alkermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Wells Fargo & Company raised Alkermes to a “strong-buy” rating in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $42.83.

Insiders Place Their Bets

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total transaction of $283,770.00. Following the transaction, the executive vice president directly owned 73,740 shares of the company’s stock, valued at approximately $2,325,022.20. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Alkermes Trading Down 0.8%

NASDAQ:ALKS opened at $29.80 on Monday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.61 and a beta of 0.54. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.45. The business’s fifty day moving average price is $29.40 and its 200 day moving average price is $29.15.

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

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.