Alkermes plc $ALKS Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in Alkermes plc (NASDAQ:ALKS) by 3.4% in the second quarter, HoldingsChannel.com reports. The firm owned 2,902,510 shares of the company’s stock after selling 101,585 shares during the quarter. Primecap Management Co. CA’s holdings in Alkermes were worth $83,041,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Twin Tree Management LP acquired a new stake in Alkermes in the first quarter valued at approximately $29,000. Armstrong Advisory Group Inc. purchased a new position in shares of Alkermes during the 2nd quarter valued at approximately $29,000. Brooklyn Investment Group grew its stake in Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after acquiring an additional 964 shares during the period. Quantbot Technologies LP increased its holdings in Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after acquiring an additional 385 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Alkermes in the 2nd quarter worth $49,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

ALKS stock opened at $28.69 on Thursday. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.45. The firm has a market capitalization of $4.74 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The business has a 50 day simple moving average of $30.10 and a 200-day simple moving average of $29.51.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALKS. Wall Street Zen cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Truist Financial boosted their price objective on Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company decreased their target price on Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Deutsche Bank Aktiengesellschaft lowered their price target on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Needham & Company LLC increased their price objective on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $30.38, for a total value of $273,420.00. Following the completion of the sale, the executive vice president owned 69,740 shares of the company’s stock, valued at approximately $2,118,701.20. This represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.40% of the company’s stock.

Alkermes Company 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.