Aberdeen Group plc Buys 21,852 Shares of Alkermes plc $ALKS

by · The Markets Daily

Aberdeen Group plc increased its stake in shares of Alkermes plc (NASDAQ:ALKS – Free Report) by 13.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 178,719 shares of the company’s stock after purchasing an additional 21,852 shares during the quarter. Aberdeen Group plc’s holdings in Alkermes were worth $5,113,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Twin Tree Management LP bought a new position in Alkermes in the 1st quarter valued at $29,000. Armstrong Advisory Group Inc. bought a new position in Alkermes in the 2nd quarter valued at $29,000. Brooklyn Investment Group grew its position in Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after acquiring an additional 964 shares during the last quarter. Quantbot Technologies LP grew its position in Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after acquiring an additional 385 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock valued at $49,000 after acquiring an additional 521 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $30.80 on Friday. The stock has a market capitalization of $5.08 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.74 and a beta of 0.54. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.45. The business has a fifty day moving average price of $29.06 and a 200 day moving average price of $29.15.

Alkermes (NASDAQ:ALKS – Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $390.66 million during the quarter, compared to analysts’ expectations of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, equities research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on ALKS shares. Wells Fargo & Company raised Alkermes to a “strong-buy” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group started coverage on Alkermes in a research report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 price objective on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday. Royal Bank Of Canada raised Alkermes from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $42.00 to $44.00 in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. increased their price target on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and an average price target of $42.00.

View Our Latest Stock Analysis on ALKS

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total transaction of $283,770.00. Following the completion of the sale, the executive vice president directly owned 73,740 shares in the company, valued at $2,325,022.20. This represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.40% of the stock is owned by company insiders.

About Alkermes

(Free Report)

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.

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