Fisher Asset Management LLC Sells 29,734 Shares of Alkermes plc $ALKS

Fisher Asset Management LLC lessened its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 9.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 291,947 shares of the company’s stock after selling 29,734 shares during the quarter. Fisher Asset Management LLC owned about 0.18% of Alkermes worth $8,353,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ALKS. Diversified Trust Co grew its holdings in Alkermes by 0.8% during the 2nd quarter. Diversified Trust Co now owns 44,232 shares of the company’s stock valued at $1,265,000 after buying an additional 372 shares in the last quarter. Quantbot Technologies LP grew its stake in Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after acquiring an additional 385 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Alkermes by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock valued at $2,203,000 after acquiring an additional 400 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Alkermes by 3.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company’s stock valued at $408,000 after acquiring an additional 451 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Alkermes by 1.1% in the 2nd quarter. Amalgamated Bank now owns 46,848 shares of the company’s stock worth $1,340,000 after purchasing an additional 528 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Stock Performance

Shares of Alkermes stock opened at $29.53 on Thursday. The stock has a market cap of $4.88 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.39 and a beta of 0.49. The stock has a 50 day moving average price of $30.38 and a 200-day moving average price of $29.38. Alkermes plc has a one year low of $25.17 and a one year high of $36.45.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALKS. Royal Bank Of Canada raised their price objective on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group set a $56.00 price target on Alkermes and gave the company a “buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. lifted their price objective on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Piper Sandler reiterated an “overweight” rating and set a $45.00 target price (up from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. Finally, Truist Financial raised their target price on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Insider Activity

In related news, EVP Craig C. Hopkinson sold 4,000 shares of Alkermes stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $29.30, for a total transaction of $117,200.00. Following the completion of the transaction, the executive vice president directly owned 65,740 shares of the company’s stock, valued at approximately $1,926,182. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 22,000 shares of company stock valued at $674,390. 4.40% of the stock is currently owned by company insiders.

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.