Aberdeen Group plc Has $5.18 Million Position in Alkermes plc $ALKS

Key Points

• Aberdeen Group plc reduced its stake in Alkermes plc by 35.8%, holding approximately 156,867 shares worth $5.18 million as of the last SEC filing.
• Several institutional investors, including JPMorgan Chase & Co., increased their holdings significantly in Alkermes, with JPMorgan growing its stake by 488.6% during the first quarter.
• Alkermes reported earnings of $0.52 per share, surpassing expectations, and has set its FY 2025 guidance at 1.030-1.210 EPS, indicating solid future performance potential.

Aberdeen Group plc cut its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 35.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,867 shares of the company's stock after selling 87,452 shares during the quarter. Aberdeen Group plc owned approximately 0.10% of Alkermes worth $5,180,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RTW Investments LP increased its position in shares of Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock worth $217,363,000 after purchasing an additional 903,802 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alkermes by 488.6% during 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Alkermes by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company's stock worth $86,842,000 after buying an additional 128,701 shares in the last quarter. Nuveen LLC bought a new position in shares of Alkermes in the first quarter valued at approximately $66,689,000. Finally, Northern Trust Corp raised its stake in shares of Alkermes by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,912,132 shares of the company's stock valued at $54,993,000 after acquiring an additional 167,452 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Stock Up 0.4%

Alkermes stock opened at $28.97 on Thursday. The business's 50-day simple moving average is $28.38 and its 200 day simple moving average is $30.49. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.65 and a beta of 0.47. Alkermes plc has a 12-month low of $25.56 and a 12-month high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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 company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, sell-side analysts expect that Alkermes plc will post 1.31 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and increased their price target for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Royal Bank Of Canada increased their target price on Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. HC Wainwright reiterated a "neutral" rating and set a $46.00 price target on shares of Alkermes in a research report on Monday, July 21st. Finally, Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.08.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total value of $103,654.06. Following the transaction, the senior vice president directly owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. This trade 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 can be accessed through the SEC website. 4.40% of the stock is owned by corporate insiders.

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.

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