Affinity Asset Advisors LLC Sells 100,000 Shares of Alkermes plc $ALKS

Key Points

• Affinity Asset Advisors LLC has reduced its stake in Alkermes plc by 9.1%, owning 1,000,000 shares, making it the firm's 5th largest position.
• Analysts have mixed opinions on Alkermes, with ratings varying from "strong-buy" to "hold," and an average price target of $41.08.
• Alkermes reported earnings of $0.52 per share for the last quarter, exceeding expectations, with total revenue of $390.66 million, although it marked a 2.1% decline year-over-year.

Affinity Asset Advisors LLC decreased its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,000,000 shares of the company's stock after selling 100,000 shares during the quarter. Alkermes makes up 3.2% of Affinity Asset Advisors LLC's holdings, making the stock its 5th largest holding. Affinity Asset Advisors LLC owned about 0.61% of Alkermes worth $33,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock valued at $2,877,000 after purchasing an additional 311 shares in the last quarter. Quantbot Technologies LP boosted its position in Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock valued at $36,000 after purchasing an additional 385 shares in the last quarter. Hohimer Wealth Management LLC raised its stake in Alkermes by 3.8% in the first quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock valued at $408,000 after buying an additional 450 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Alkermes by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company's stock valued at $408,000 after buying an additional 451 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in 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 last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Up 0.1%

Shares of NASDAQ:ALKS traded up $0.04 during trading on Friday, hitting $28.97. The stock had a trading volume of 1,426,735 shares, compared to its average volume of 1,308,370. Alkermes plc has a 12-month low of $25.56 and a 12-month high of $36.45. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.67 and a beta of 0.47. The stock has a 50-day simple moving average of $28.31 and a two-hundred day simple moving average of $30.36.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. The company 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%.Alkermes's quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the business earned $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, sell-side analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on ALKS shares. Wall Street Zen cut Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $45.00 price target on shares of Alkermes in a research note on Tuesday, July 29th. 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. UBS Group upgraded 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. Finally, The Goldman Sachs Group started coverage on Alkermes in a research note on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.08.

Insiders Place Their Bets

In related news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the transaction, the senior vice president directly owned 86,208 shares in the company, 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 this hyperlink. Corporate insiders own 4.40% of the company's stock.

Alkermes Company 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.