Alkermes plc $ALKS Stock Holdings Lowered by Fifth Third Bancorp

Fifth Third Bancorp cut its stake in shares of Alkermes plc (NASDAQ:ALKS) by 24.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,116 shares of the company’s stock after selling 363 shares during the period. Fifth Third Bancorp’s holdings in Alkermes were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALKS. JPMorgan Chase & Co. grew its position in Alkermes by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after purchasing an additional 4,345,523 shares in the last quarter. Nuveen LLC bought a new stake in shares of Alkermes during the 1st quarter worth $66,689,000. Acadian Asset Management LLC boosted its holdings in shares of Alkermes by 2,422.0% during the 1st quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock worth $29,100,000 after buying an additional 846,861 shares during the period. Driehaus Capital Management LLC bought a new stake in shares of Alkermes during the 1st quarter worth $26,179,000. Finally, MetLife Investment Management LLC raised its stake in Alkermes by 487.0% during the 1st quarter. MetLife Investment Management LLC now owns 567,621 shares of the company’s stock valued at $18,743,000 after purchasing an additional 470,926 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ALKS. HC Wainwright reiterated a “neutral” rating and set a $46.00 target price on shares of Alkermes in a research note on Tuesday, September 9th. Needham & Company LLC set a $43.00 price objective on shares of Alkermes in a research note on Tuesday, September 9th. The Goldman Sachs Group assumed coverage on shares of Alkermes in a research note on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price objective for the company. Royal Bank Of Canada upgraded shares of Alkermes from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $42.00 to $44.00 in a research note on Friday, September 26th. Finally, UBS Group upgraded shares of Alkermes from a “neutral” rating to a “buy” rating and increased their price objective for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Alkermes Stock Down 0.6%

Shares of NASDAQ:ALKS opened at $31.06 on Friday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The company’s 50-day moving average price is $28.21 and its two-hundred day moving average price is $29.30. The firm has a market cap of $5.13 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.76 and a beta of 0.54.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, equities analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

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.