Los Angeles Capital Management LLC Boosts Stock Holdings in Alkermes plc $ALKS

Los Angeles Capital Management LLC grew its position in Alkermes plc (NASDAQ:ALKS) by 33.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,200 shares of the company’s stock after acquiring an additional 13,410 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Alkermes were worth $1,522,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Diversified Trust Co boosted its stake in Alkermes by 0.8% during the 2nd quarter. Diversified Trust Co now owns 44,232 shares of the company’s stock worth $1,265,000 after purchasing an additional 372 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Alkermes by 54.5% in 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. Louisiana State Employees Retirement System boosted its position in Alkermes by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock worth $2,203,000 after acquiring an additional 400 shares during the last quarter. Hohimer Wealth Management LLC grew its stake in Alkermes by 3.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company’s stock valued at $408,000 after acquiring an additional 450 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Alkermes by 3.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company’s stock valued at $408,000 after acquiring an additional 451 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alkermes

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

Alkermes Price Performance

Shares of ALKS stock opened at $33.81 on Wednesday. The firm has a market cap of $5.58 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The company has a 50-day moving average of $29.97 and a two-hundred day moving average of $29.50. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.45.

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

Analyst Ratings Changes

ALKS has been the subject of a number of analyst reports. Jefferies Financial Group set a $56.00 price target on Alkermes and gave the company a “buy” rating in a research report on Tuesday, October 28th. Mizuho upped their target price on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Zacks Research upgraded Alkermes from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted 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. Finally, Wells Fargo & Company dropped their price objective on shares of Alkermes from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.23.

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.