Alkermes plc $ALKS Stock Position Raised by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in Alkermes plc (NASDAQ:ALKS) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,462 shares of the company’s stock after acquiring an additional 1,030 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Alkermes were worth $1,386,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ALKS. Diversified Trust Co grew its holdings in shares of Alkermes by 0.8% during the second quarter. Diversified Trust Co now owns 44,232 shares of the company’s stock valued at $1,265,000 after buying an additional 372 shares in the last quarter. Quantbot Technologies LP boosted its position in Alkermes by 54.5% during 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 during the period. Louisiana State Employees Retirement System boosted its position in Alkermes by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock worth $2,203,000 after acquiring an additional 400 shares during the period. Hohimer Wealth Management LLC lifted its position in shares of Alkermes by 3.8% in the first quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company’s stock worth $408,000 after purchasing an additional 450 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Alkermes by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company’s stock worth $408,000 after purchasing an additional 451 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALKS has been the topic of several research reports. The Goldman Sachs Group began coverage on shares of Alkermes in a research note on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price objective on the stock. UBS Group upgraded shares of Alkermes from a “neutral” rating to a “buy” rating and boosted their price target for the company from $33.00 to $42.00 in a report on Tuesday, June 17th. Wells Fargo & Company raised Alkermes to a “strong-buy” rating in a research report on Wednesday, September 3rd. HC Wainwright reissued a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a research report on Tuesday, September 9th. Finally, Royal Bank Of Canada raised Alkermes from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $42.00 to $44.00 in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Alkermes Price Performance

NASDAQ ALKS opened at $31.21 on Friday. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.45. The stock’s 50-day moving average is $28.65 and its two-hundred day moving average is $29.16. The firm has a market cap of $5.15 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 1.69 and a beta of 0.54.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The business 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%.The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, equities analysts expect that Alkermes plc will post 1.31 EPS 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.