Aviva PLC Raises Holdings in Alkermes plc $ALKS

Aviva PLC raised its position in shares of Alkermes plc (NASDAQ:ALKS) by 11.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,494 shares of the company’s stock after acquiring an additional 2,069 shares during the period. Aviva PLC’s holdings in Alkermes were worth $558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of Alkermes by 25.6% in the first quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock worth $2,825,000 after buying an additional 17,413 shares during the last quarter. Baird Financial Group Inc. bought a new position in Alkermes during the 1st quarter valued at $587,000. Victory Capital Management Inc. grew 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 worth $3,995,000 after acquiring an additional 28,596 shares in the last quarter. Atle Fund Management AB increased its position in shares of Alkermes by 5.8% in the 2nd quarter. Atle Fund Management AB now owns 227,224 shares of the company’s stock worth $6,501,000 after purchasing an additional 12,446 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Alkermes by 2,422.0% in the 1st quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock valued at $29,100,000 after purchasing an additional 846,861 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total value of $273,420.00. Following the completion of the sale, the executive vice president directly owned 69,740 shares of the company’s stock, valued at approximately $2,118,701.20. This represents a 11.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group set a $56.00 price target on Alkermes and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Royal Bank Of Canada lifted their target price on Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Mizuho upped their price target on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.31.

Alkermes Stock Performance

NASDAQ:ALKS opened at $31.01 on Friday. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.45. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.70 and a beta of 0.53. The business has a fifty day moving average of $30.04 and a 200-day moving average of $29.52.

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

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.