Alkermes plc $ALKS Shares Acquired by Frazier Life Sciences Management L.P.

Frazier Life Sciences Management L.P. boosted its holdings in Alkermes plc (NASDAQ:ALKS) by 66.5% in the second quarter, HoldingsChannel.com reports. The firm owned 1,000,647 shares of the company’s stock after buying an additional 399,518 shares during the quarter. Alkermes comprises about 1.1% of Frazier Life Sciences Management L.P.’s investment portfolio, making the stock its 20th largest holding. Frazier Life Sciences Management L.P.’s holdings in Alkermes were worth $28,629,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ALKS. Twin Tree Management LP purchased a new stake in shares of Alkermes during the 1st quarter worth approximately $29,000. Armstrong Advisory Group Inc. purchased a new position in shares of Alkermes in the 2nd quarter valued at $29,000. Brooklyn Investment Group raised its stake in Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after acquiring an additional 964 shares in the last quarter. Quantbot Technologies LP lifted its position in Alkermes by 54.5% in 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, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Alkermes in the second quarter valued at $49,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective (up previously from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Jefferies Financial Group set a $56.00 price target on Alkermes and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Wells Fargo & Company reduced their price objective on Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Truist Financial increased their price objective on Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $44.69.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president owned 69,740 shares in the company, valued at approximately $2,118,701.20. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 25,748 shares of company stock worth $786,830. 4.40% of the stock is currently owned by corporate insiders.

Alkermes Trading Down 2.3%

Shares of ALKS stock opened at $28.50 on Friday. The company has a market capitalization of $4.71 billion, a P/E ratio of 14.11 and a beta of 0.49. The business’s 50 day moving average is $30.30 and its two-hundred day moving average is $29.32. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45.

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