Alkermes plc $ALKS Shares Acquired by Profund Advisors LLC

Profund Advisors LLC increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 7.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,869 shares of the company’s stock after acquiring an additional 2,641 shares during the period. Profund Advisors LLC’s holdings in Alkermes were worth $1,141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP bought a new position in shares of Alkermes during the 1st quarter valued at about $29,000. Armstrong Advisory Group Inc. acquired a new stake in Alkermes during the second quarter valued at approximately $29,000. Brooklyn Investment Group lifted its stake in 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 purchasing an additional 964 shares during the last quarter. Quantbot Technologies LP boosted its holdings in 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 buying an additional 385 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Alkermes in the second quarter worth approximately $49,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Trading Up 3.6%

NASDAQ:ALKS opened at $33.81 on Wednesday. The business’s fifty day moving average price is $29.97 and its 200 day moving average price is $29.50. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.70 and a beta of 0.53. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.45.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.08. The company had revenue of $394.19 million for the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Equities analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total value of $273,420.00. Following the transaction, the executive vice president owned 69,740 shares in the company, valued at approximately $2,118,701.20. This represents a 11.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ALKS. JPMorgan Chase & Co. increased their price objective on 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 boosted their target price on Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Wells Fargo & Company dropped their price target on Alkermes from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 29th. Finally, Jefferies Financial Group set a $56.00 price objective on Alkermes and gave the stock a “buy” rating in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.23.

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.