Alkermes plc $ALKS Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Alkermes plc by 25.6%, owning 85,564 shares worth approximately $2.83 million.
• Alkermes reported $0.52 EPS for the last quarter, beating estimates, with revenues of $390.66 million, which is down 2.1% year-over-year.
• Research analysts have given Alkermes a consensus rating of "Moderate Buy" with a price target of $41.85, reflecting growing interest and positive outlook in the stock.

Intech Investment Management LLC raised its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 85,564 shares of the company's stock after buying an additional 17,413 shares during the quarter. Intech Investment Management LLC owned about 0.05% of Alkermes worth $2,825,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. lifted its position 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 valued at $172,860,000 after buying an additional 4,345,523 shares during the last quarter. Baker BROS. Advisors LP raised its position in shares of Alkermes by 7.2% in the 1st quarter. Baker BROS. Advisors LP now owns 4,483,285 shares of the company's stock valued at $148,038,000 after purchasing an additional 301,534 shares during the last quarter. American Century Companies Inc. raised its position in shares of Alkermes by 0.4% in the 1st quarter. American Century Companies Inc. now owns 3,465,674 shares of the company's stock valued at $114,437,000 after purchasing an additional 14,967 shares during the last quarter. Nuveen LLC purchased a new position in shares of Alkermes in the 1st quarter valued at approximately $66,689,000. Finally, Nuveen Asset Management LLC raised its position in shares of Alkermes by 109.5% in the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock valued at $47,736,000 after purchasing an additional 867,492 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised shares of Alkermes to a "strong-buy" rating in a research report on Wednesday, September 3rd. Needham & Company LLC set a $43.00 price objective on shares of Alkermes in a research report on Tuesday, September 9th. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and increased their price objective for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Finally, The Goldman Sachs Group assumed coverage on shares of Alkermes in a research report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Alkermes presently has an average rating of "Moderate Buy" and an average price target of $41.85.

Alkermes Price Performance

ALKS traded down $0.76 during trading on Friday, reaching $27.79. 3,309,695 shares of the company's stock were exchanged, compared to its average volume of 2,011,369. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.45. The stock has a market capitalization of $4.59 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.61 and a beta of 0.53. The company's fifty day simple moving average is $28.00 and its 200-day simple moving average is $29.67.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $343.20 million. During the same period last year, the firm posted $1.16 EPS. Alkermes's revenue for the quarter was down 2.1% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

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.