Baird Financial Group Inc. Purchases New Shares in Alkermes plc $ALKS

Baird Financial Group Inc. purchased a new stake in shares of Alkermes plc (NASDAQ:ALKS) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,764 shares of the company’s stock, valued at approximately $587,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ritholtz Wealth Management purchased a new stake in Alkermes during the 1st quarter valued at $348,000. Victory Capital Management Inc. raised its holdings in Alkermes by 30.9% during the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company’s stock valued at $3,995,000 after buying an additional 28,596 shares during the period. GAMMA Investing LLC raised its holdings in Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company’s stock valued at $178,000 after buying an additional 1,305 shares during the period. Captrust Financial Advisors raised its holdings in Alkermes by 9.7% during the 4th quarter. Captrust Financial Advisors now owns 18,362 shares of the company’s stock valued at $528,000 after buying an additional 1,619 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of Alkermes by 54.4% in the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock worth $49,000 after buying an additional 521 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Trading Down 3.3%

Shares of Alkermes stock opened at $26.93 on Thursday. The firm has a market cap of $4.45 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.60 and a beta of 0.53. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The stock’s fifty day moving average price is $28.28 and its 200-day moving average price is $30.01.

Alkermes (NASDAQ:ALKS) last announced its 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. The business had revenue of $390.66 million for the quarter, compared to analysts’ expectations of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALKS has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Alkermes in a report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price target on the stock. Royal Bank Of Canada boosted their target price on shares of Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. HC Wainwright restated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a report on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $45.00 price target on shares of Alkermes in a report on Tuesday, July 29th. Finally, UBS Group upgraded shares of Alkermes from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $42.00 in a report on Tuesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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.