Avoro Capital Advisors LLC Trims Position in Alkermes plc $ALKS

Avoro Capital Advisors LLC reduced its holdings in Alkermes plc (NASDAQ:ALKS) by 22.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,240,000 shares of the company’s stock after selling 660,000 shares during the period. Alkermes comprises 0.9% of Avoro Capital Advisors LLC’s holdings, making the stock its 23rd biggest position. Avoro Capital Advisors LLC owned about 1.36% of Alkermes worth $67,200,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALKS. Norges Bank purchased a new position in shares of Alkermes in the second quarter valued at approximately $53,326,000. Arrowstreet Capital Limited Partnership increased its position in shares of Alkermes by 1,070.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock worth $36,268,000 after purchasing an additional 1,105,666 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Alkermes by 787.2% in the second quarter. BNP Paribas Financial Markets now owns 1,135,478 shares of the company’s stock valued at $32,486,000 after buying an additional 1,007,488 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Alkermes in the third quarter worth about $27,040,000. Finally, American Century Companies Inc. lifted its stake in Alkermes by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after purchasing an additional 740,248 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Up 0.4%

Shares of ALKS opened at $27.76 on Friday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.32. The company has a market capitalization of $4.63 billion, a PE ratio of 19.41, a P/E/G ratio of 6.89 and a beta of 0.53. The company has a 50-day simple moving average of $31.58 and a 200-day simple moving average of $30.19.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) 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 firm had revenue of $384.55 million for the quarter, compared to analyst estimates of $380.44 million. During the same period last year, the firm earned $1.05 EPS. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. On average, research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Insider Activity at Alkermes

In related news, Director Shane Cooke sold 61,200 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total value of $2,115,684.00. Following the completion of the sale, the director directly owned 103,744 shares in the company, valued at approximately $3,586,430.08. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 6,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $30.00, for a total value of $180,000.00. Following 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 157,434 shares of company stock valued at $5,305,794 over the last three months. Insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research downgraded Alkermes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Truist Financial upped their target price on Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 17th. HC Wainwright reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Alkermes in a research note on Thursday, February 26th. Royal Bank Of Canada reduced their price target on Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Finally, Wells Fargo & Company lifted their target price on shares of Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.07.

Alkermes 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.