Alkermes plc $ALKS Position Decreased by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its holdings in Alkermes plc (NASDAQ:ALKS) by 33.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,898 shares of the company’s stock after selling 36,346 shares during the quarter. Edgestream Partners L.P.’s holdings in Alkermes were worth $2,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Alkermes by 488.6% in the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock worth $172,860,000 after buying an additional 4,345,523 shares during the last quarter. Nuveen LLC bought a new stake in shares of Alkermes during the 1st quarter worth $66,689,000. Norges Bank acquired a new position in shares of Alkermes in the 2nd quarter worth $53,326,000. Acadian Asset Management LLC raised its position in shares of Alkermes by 2,422.0% during the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock worth $29,100,000 after purchasing an additional 846,861 shares during the period. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Alkermes during the first quarter valued at $26,179,000. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Stock Performance

NASDAQ:ALKS opened at $29.30 on Friday. The company has a market capitalization of $4.84 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.42 and a beta of 0.49. The stock’s 50 day moving average price is $30.42 and its 200 day moving average price is $29.38. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.45.

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

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $30.38, for a total transaction of $273,420.00. Following the transaction, the executive vice president directly owned 69,740 shares in the company, valued at $2,118,701.20. This trade represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 22,000 shares of company stock worth $674,390 over the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALKS shares. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Wells Fargo & Company dropped their target price on shares of Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price target on shares of Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.69.

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.