Assenagon Asset Management S.A. Has $2.40 Million Stock Holdings in Alkermes plc $ALKS

Assenagon Asset Management S.A. increased its position in Alkermes plc (NASDAQ:ALKS) by 23.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,017 shares of the company’s stock after purchasing an additional 15,968 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alkermes were worth $2,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Alkermes in the 2nd quarter valued at about $213,000. Voya Investment Management LLC lifted its holdings in Alkermes by 6.0% in the first quarter. Voya Investment Management LLC now owns 477,183 shares of the company’s stock valued at $15,757,000 after buying an additional 27,136 shares during the period. Strs Ohio bought a new position in Alkermes in the first quarter valued at approximately $1,403,000. Acadian Asset Management LLC boosted its stake in Alkermes by 2,422.0% in the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock valued at $29,100,000 after acquiring an additional 846,861 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in Alkermes by 25.6% during the 1st quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock worth $2,825,000 after acquiring an additional 17,413 shares during the period. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Down 2.4%

Alkermes stock opened at $27.13 on Friday. The company has a 50 day moving average of $27.87 and a 200-day moving average of $29.47. The stock has a market capitalization of $4.48 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.56 and a beta of 0.53. 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, July 29th. The company reported $0.52 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $343.20 million. During the same quarter last year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

ALKS has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. HC Wainwright reiterated a “neutral” rating and issued a $46.00 price objective on shares of Alkermes in a report on Tuesday, September 9th. Wells Fargo & Company raised Alkermes to a “strong-buy” rating in a research note on Wednesday, September 3rd. UBS Group upgraded Alkermes from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Finally, Royal Bank Of Canada upped their price target on Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.85.

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.