Amundi Cuts Holdings in Alkermes plc $ALKS

Amundi decreased its position in shares of Alkermes plc (NASDAQ:ALKS) by 19.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,345 shares of the company’s stock after selling 16,318 shares during the period. Amundi’s holdings in Alkermes were worth $2,132,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Twin Tree Management LP purchased a new position in shares of Alkermes during the first quarter valued at about $29,000. Brooklyn Investment Group grew its position in Alkermes by 1,071.1% in the first 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 grew its position in 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 acquiring an additional 385 shares in the last quarter. USA Financial Formulas purchased a new position in Alkermes in the first quarter worth about $49,000. Finally, Fifth Third Bancorp grew its position in 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 acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALKS. UBS Group upgraded Alkermes from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Wells Fargo & Company upgraded Alkermes to a “strong-buy” rating in a research report on Wednesday, September 3rd. Needham & Company LLC set a $43.00 price target on Alkermes in a research report on Tuesday. The Goldman Sachs Group initiated coverage on Alkermes in a research report on Tuesday, July 15th. They set a “buy” rating and a $43.00 target price for the company. Finally, Royal Bank Of Canada boosted their target price on Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and a consensus target price of $41.85.

Alkermes Stock Performance

Alkermes stock opened at $27.71 on Friday. The company has a 50 day moving average price of $28.26 and a 200-day moving average price of $29.96. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.45. The company has a market capitalization of $4.57 billion, a PE ratio of 13.32, a P/E/G ratio of 1.55 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The firm had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. During the same quarter in the previous year, the firm posted $1.16 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Alkermes Company 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.