Citigroup Inc. Sells 121,945 Shares of Alkermes plc $ALKS

Citigroup Inc. reduced its stake in shares of Alkermes plc (NASDAQ:ALKS) by 64.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,901 shares of the company’s stock after selling 121,945 shares during the quarter. Citigroup Inc.’s holdings in Alkermes were worth $1,977,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALKS. Capital Fund Management S.A. purchased a new stake in shares of Alkermes during the second quarter valued at about $1,142,000. Public Sector Pension Investment Board boosted its holdings in shares of Alkermes by 11.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock valued at $21,321,000 after buying an additional 73,787 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of Alkermes by 38.9% in the 3rd quarter. New York State Common Retirement Fund now owns 195,999 shares of the company’s stock worth $5,880,000 after buying an additional 54,915 shares during the last quarter. Allianz Asset Management GmbH grew its position in shares of Alkermes by 3,908.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 524,795 shares of the company’s stock worth $15,744,000 after buying an additional 511,702 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Alkermes by 18.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 134,387 shares of the company’s stock worth $4,032,000 after acquiring an additional 21,067 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Up 1.0%

Shares of Alkermes stock opened at $28.63 on Monday. The company has a 50 day moving average price of $31.60 and a 200 day moving average price of $30.25. The firm has a market capitalization of $4.77 billion, a P/E ratio of 20.02, a PEG ratio of 7.14 and a beta of 0.53. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.32.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The company had revenue of $384.55 million for the quarter, compared to analysts’ expectations of $380.44 million. During the same period in the prior year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. As a group, research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 6,000 shares of Alkermes stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $30.00, for a total transaction of $180,000.00. Following the completion of the sale, the senior vice president owned 109,769 shares of the company’s stock, valued at approximately $3,293,070. The trade was a 5.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $29.29, for a total value of $59,575.86. Following the sale, the executive vice president owned 237,660 shares in the company, valued at approximately $6,961,061.40. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 157,434 shares of company stock valued at $5,305,794. 4.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Zacks Research cut shares of Alkermes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Bank of America lifted their price target on shares of Alkermes from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft reduced their price target on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Royal Bank Of Canada decreased their price objective on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Finally, Wall Street Zen cut Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.07.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.