Acadian Asset Management LLC Has $29.10 Million Holdings in Alkermes plc $ALKS

Key Points

• Acadian Asset Management LLC significantly increased its stake in Alkermes plc by 2,422.0% during Q1, owning approximately $29.1 million worth of shares by the end of the quarter.
• Several analysts have given Alkermes a consensus rating of Moderate Buy with a price target around $42.00.
• Alkermes reported earnings of $0.52 EPS, exceeding expectations, and expects to post 1.31 EPS for the current year.

Acadian Asset Management LLC increased its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 2,422.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 881,827 shares of the company's stock after acquiring an additional 846,861 shares during the quarter. Acadian Asset Management LLC owned about 0.53% of Alkermes worth $29,100,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management bought a new stake in Alkermes in the 1st quarter valued at $348,000. Victory Capital Management Inc. increased its holdings in Alkermes by 30.9% in the 1st 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. Baird Financial Group Inc. bought a new stake in Alkermes in the 1st quarter valued at $587,000. GAMMA Investing LLC increased its holdings in Alkermes by 31.9% in the 1st 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. Finally, Captrust Financial Advisors increased its holdings in Alkermes by 9.7% in the 4th 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. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Up 1.8%

NASDAQ:ALKS traded up $0.47 during mid-day trading on Tuesday, reaching $26.99. 467,776 shares of the company were exchanged, compared to its average volume of 1,788,057. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The company has a fifty day moving average of $28.17 and a 200 day moving average of $29.79. The stock has a market cap of $4.45 billion, a PE ratio of 12.99, a PEG ratio of 1.52 and a beta of 0.53.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on ALKS shares. HC Wainwright reissued a "neutral" rating and issued a $46.00 price target on shares of Alkermes in a report on Tuesday, September 9th. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and boosted their price target for the company from $33.00 to $42.00 in a report on Tuesday, June 17th. The Goldman Sachs Group initiated coverage on shares of Alkermes in a report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price target on the stock. Needham & Company LLC set a $43.00 target price on shares of Alkermes in a report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alkermes from $34.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $41.85.

About Alkermes

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.