Resona Asset Management Co. Ltd. Takes $516,000 Position in Alkermes plc $ALKS

Resona Asset Management Co. Ltd. bought a new stake in Alkermes plc (NASDAQ:ALKS) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 18,025 shares of the company’s stock, valued at approximately $516,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP acquired a new position in Alkermes in the first quarter valued at $29,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Alkermes during the second quarter worth about $29,000. Brooklyn Investment Group lifted its holdings in shares of Alkermes by 1,071.1% in the 1st 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 position in shares of Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after purchasing an additional 385 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Alkermes in the 2nd quarter valued at about $49,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALKS has been the topic of several research analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Truist Financial began coverage on shares of Alkermes in a report on Tuesday. They issued a “buy” rating and a $50.00 target price on the stock. The Goldman Sachs Group initiated coverage on shares of Alkermes in a research note on Tuesday, July 15th. They set a “buy” rating and a $43.00 price target for the company. Wall Street Zen downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Zacks Research raised shares of Alkermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and a consensus target price of $45.23.

Alkermes Stock Up 3.6%

Shares of NASDAQ:ALKS opened at $33.81 on Wednesday. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.70 and a beta of 0.53. The firm’s 50-day simple moving average is $29.97 and its 200-day simple moving average is $29.50. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 22.27% and a return on equity of 21.81%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company 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 year.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was 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 directly owned 69,740 shares of the company’s stock, valued at $2,118,701.20. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

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.