Louisiana State Employees Retirement System Has $2.20 Million Stake in Alkermes plc $ALKS

Louisiana State Employees Retirement System grew its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,000 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Alkermes were worth $2,203,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Twin Tree Management LP bought a new stake in shares of Alkermes during the first quarter worth about $29,000. Armstrong Advisory Group Inc. bought a new stake in shares of Alkermes during the second quarter worth about $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 worth $35,000 after purchasing an additional 964 shares during 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 worth $36,000 after purchasing an additional 385 shares during 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 worth $49,000 after purchasing an additional 521 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank Of Canada upgraded Alkermes from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $42.00 to $44.00 in a report on Friday, September 26th. Weiss Ratings restated a “hold (c)” rating on shares of Alkermes in a report on Saturday, September 27th. JPMorgan Chase & Co. boosted their price target on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. HC Wainwright restated a “neutral” rating and set a $46.00 price target on shares of Alkermes in a report on Tuesday, September 9th. Finally, Needham & Company LLC set a $43.00 target price on Alkermes in a report on Tuesday, September 9th. Two equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Alkermes Price Performance

Shares of ALKS stock opened at $31.21 on Friday. The business’s 50 day simple moving average is $28.65 and its 200 day simple moving average is $29.19. Alkermes plc has a one year low of $25.17 and a one year high of $36.45. The stock has a market capitalization of $5.15 billion, a PE ratio of 15.00, a PEG ratio of 1.69 and a beta of 0.54.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. The business had revenue of $390.66 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, research analysts expect that Alkermes plc will post 1.31 earnings per share for the current year.

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.