Y Intercept Hong Kong Ltd Raises Stock Position in Alkermes plc $ALKS

Y Intercept Hong Kong Ltd boosted its position in shares of Alkermes plc (NASDAQ:ALKS) by 446.3% during the second quarter, Holdings Channel.com reports. The firm owned 138,433 shares of the company’s stock after buying an additional 113,094 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Alkermes were worth $3,961,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Twin Tree Management LP purchased a new position in Alkermes during the first quarter worth about $29,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Alkermes during the second quarter valued at about $29,000. Brooklyn Investment Group increased its position 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 valued at $35,000 after acquiring an additional 964 shares during the last quarter. Quantbot Technologies LP increased its position in shares of Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after acquiring an additional 385 shares during the last quarter. Finally, GF Fund Management CO. LTD. increased its position in shares of Alkermes by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 4,143 shares of the company’s stock valued at $137,000 after acquiring an additional 746 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Stock Performance

Shares of ALKS stock opened at $31.00 on Wednesday. The stock has a market capitalization of $5.12 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.60 and a beta of 0.54. The company has a 50 day moving average price of $29.48 and a 200 day moving average price of $29.19. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $394.19 million during the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 earnings per share. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, research analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $31.53, for a total transaction of $283,770.00. Following the completion of the transaction, the executive vice president owned 73,740 shares in the company, valued at $2,325,022.20. The trade was a 10.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ALKS has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Royal Bank Of Canada lifted their price target on shares of Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Mizuho lifted their price target on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday. Finally, The Goldman Sachs Group began coverage on shares of Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 price target for the company. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of “Buy” and a consensus target price of $44.23.

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.