Campbell & CO Investment Adviser LLC Makes New $2.48 Million Investment in Alkermes plc $ALKS

Key Points

• Campbell & CO Investment Adviser LLC purchased 75,069 shares of Alkermes plc, valued at approximately $2.48 million, marking a significant new position for the firm in the 1st quarter.
• Several hedge funds, including Brooklyn Investment Group and Fifth Third Bancorp, have notably increased their stakes in Alkermes during the same period, indicating strong institutional interest with 95.21% of the stock owned by institutional investors.
• Analysts have a consensus rating of "Moderate Buy" for Alkermes, with price targets raising to between $40.00 and $45.00, reflecting positive sentiment regarding the company's growth and performance.

Campbell & CO Investment Adviser LLC bought a new position in Alkermes plc (NASDAQ:ALKS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 75,069 shares of the company's stock, valued at approximately $2,479,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management acquired a new position in Alkermes in the 1st quarter worth about $348,000. Victory Capital Management Inc. increased its stake in shares of Alkermes by 30.9% in the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock valued at $3,995,000 after buying an additional 28,596 shares during the period. GAMMA Investing LLC increased its stake in shares of Alkermes by 31.9% in the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock valued at $178,000 after buying an additional 1,305 shares during the period. Captrust Financial Advisors increased its stake in shares of Alkermes by 9.7% in the fourth quarter. Captrust Financial Advisors now owns 18,362 shares of the company's stock valued at $528,000 after buying an additional 1,619 shares during the period. Finally, Fifth Third Bancorp increased its stake in shares of Alkermes by 54.4% in the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock valued at $49,000 after buying an additional 521 shares during the period. Institutional investors and hedge funds own 95.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and increased their price target for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Royal Bank Of Canada increased their price target on Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of Alkermes in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $41.08.

Alkermes Price Performance

Shares of Alkermes stock traded up $0.27 on Wednesday, hitting $29.25. 1,235,570 shares of the company's stock traded hands, compared to its average volume of 1,557,096. Alkermes plc has a one year low of $25.56 and a one year high of $36.45. The company has a fifty day moving average of $28.32 and a two-hundred day moving average of $30.42. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 1.67 and a beta of 0.47.

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

Insider Transactions at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the transaction, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.40% of the company's stock.

Alkermes 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.