Alkermes plc $ALKS Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in Alkermes plc (NASDAQ:ALKS) by 25.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,564 shares of the company’s stock after buying an additional 17,413 shares during the period. Intech Investment Management LLC owned 0.05% of Alkermes worth $2,825,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Alkermes by 488.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after buying an additional 4,345,523 shares in the last quarter. Baker BROS. Advisors LP raised its position in Alkermes by 7.2% in the 1st quarter. Baker BROS. Advisors LP now owns 4,483,285 shares of the company’s stock valued at $148,038,000 after purchasing an additional 301,534 shares during the last quarter. American Century Companies Inc. raised its position in Alkermes by 0.4% in the 1st quarter. American Century Companies Inc. now owns 3,465,674 shares of the company’s stock valued at $114,437,000 after purchasing an additional 14,967 shares during the last quarter. Nuveen LLC purchased a new stake in Alkermes in the 1st quarter valued at $66,689,000. Finally, Nuveen Asset Management LLC raised its position in Alkermes by 109.5% in the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company’s stock valued at $47,736,000 after purchasing an additional 867,492 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Down 2.7%

Shares of ALKS opened at $26.97 on Monday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45. The company has a 50-day simple moving average of $28.23 and a 200-day simple moving average of $29.84. The company has a market capitalization of $4.45 billion, a PE ratio of 12.97, a P/E/G ratio of 1.52 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 EPS 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 analysts’ expectations of $343.20 million. During the same quarter last year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Analysts Set New Price Targets

ALKS has been the subject of several research reports. Wells Fargo & Company upgraded shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. upped 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. Needham & Company LLC set a $43.00 price target on shares of Alkermes in a research report on Tuesday, September 9th. Royal Bank Of Canada upped their price target on shares of Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Finally, UBS Group upgraded shares of Alkermes from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $42.00 in a research 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’s stock. Based on data from MarketBeat.com, the company 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.