New York State Teachers Retirement System Grows Position in Alkermes plc $ALKS

New York State Teachers Retirement System boosted its stake in shares of Alkermes plc (NASDAQ:ALKS) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 90,314 shares of the company’s stock after buying an additional 611 shares during the quarter. New York State Teachers Retirement System’s holdings in Alkermes were worth $2,584,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Twin Tree Management LP bought a new stake in shares of Alkermes in the first quarter worth about $29,000. Armstrong Advisory Group Inc. bought a new stake in shares of Alkermes in the second quarter worth about $29,000. Brooklyn Investment Group increased its holdings in shares of Alkermes by 1,071.1% in 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 increased its holdings in shares of Alkermes by 54.5% in 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, Public Employees Retirement System of Ohio increased its holdings in shares of Alkermes by 480.6% in the second quarter. Public Employees Retirement System of Ohio now owns 4,418 shares of the company’s stock worth $126,000 after purchasing an additional 3,657 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $31.45 on Wednesday. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.67 and a beta of 0.54. The stock has a 50 day moving average price of $29.30 and a 200 day moving average price of $29.11. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $390.66 million during 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 quarter in the previous year, the business earned $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALKS. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a report on Tuesday, October 14th. The Goldman Sachs Group began coverage on Alkermes in a report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 target price on the stock. Wells Fargo & Company raised Alkermes to a “strong-buy” rating in a report on Wednesday, September 3rd. Needham & Company LLC set a $43.00 price objective on Alkermes in a research note on Tuesday, September 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.00.

Insiders Place Their Bets

In other Alkermes 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 completion of the sale, the executive vice president owned 73,740 shares in the company, valued at $2,325,022.20. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.

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.