Twin Tree Management LP Makes New Investment in Alkermes plc $ALKS

Twin Tree Management LP acquired a new stake in shares of Alkermes plc (NASDAQ:ALKS) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 881 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors have also modified their holdings of the stock. RTW Investments LP raised its stake in shares of Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock valued at $217,363,000 after buying an additional 903,802 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alkermes by 488.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after buying an additional 4,345,523 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Alkermes by 0.4% during the 1st quarter. American Century Companies Inc. now owns 3,465,674 shares of the company’s stock valued at $114,437,000 after buying an additional 14,967 shares during the last quarter. Nuveen LLC purchased a new position in shares of Alkermes during the 1st quarter valued at about $66,689,000. Finally, Northern Trust Corp raised its stake in shares of Alkermes by 9.6% during the 4th quarter. Northern Trust Corp now owns 1,912,132 shares of the company’s stock valued at $54,993,000 after buying an additional 167,452 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

ALKS has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price objective on Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Alkermes in a research note on Tuesday, July 29th. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. UBS Group raised Alkermes from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $42.00 in a report on Tuesday, June 17th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.08.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the transaction, the senior vice president directly owned 86,208 shares in the company, valued at $2,680,206.72. The trade was a 3.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Alkermes Trading Up 0.1%

NASDAQ:ALKS opened at $28.97 on Tuesday. Alkermes plc has a 12 month low of $25.56 and a 12 month high of $36.45. The stock has a 50 day moving average of $28.30 and a two-hundred day moving average of $30.27. The firm has a market cap of $4.78 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.67 and a beta of 0.53.

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