Alkermes plc $ALKS Shares Purchased by Bayforest Capital Ltd

Bayforest Capital Ltd lifted its position in Alkermes plc (NASDAQ:ALKS) by 105.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,270 shares of the company’s stock after purchasing an additional 4,752 shares during the quarter. Bayforest Capital Ltd’s holdings in Alkermes were worth $306,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alkermes by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after purchasing an additional 20,091 shares during the period. Fred Alger Management LLC acquired a new stake in Alkermes during the 1st quarter worth approximately $1,239,000. Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes during the 1st quarter worth approximately $213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alkermes by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,885 shares of the company’s stock worth $3,399,000 after acquiring an additional 2,853 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Alkermes by 23.4% during the 1st quarter. Advisors Asset Management Inc. now owns 17,460 shares of the company’s stock worth $577,000 after acquiring an additional 3,316 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ALKS shares. UBS Group raised Alkermes from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. The Goldman Sachs Group started coverage on Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 price objective for the company. Royal Bank Of Canada increased their price objective on Alkermes from $40.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of Alkermes in a research report on Tuesday, July 29th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Alkermes Price Performance

ALKS opened at $26.93 on Thursday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The stock has a market capitalization of $4.45 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.60 and a beta of 0.53. The business has a 50 day simple moving average of $28.28 and a 200-day simple moving average of $30.01.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, beating 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 firm had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. During the same period last year, the business posted $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. Research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

About Alkermes

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.