Voya Investment Management LLC Purchases 27,136 Shares of Alkermes plc $ALKS

Key Points

• Voya Investment Management LLC increased its stake in Alkermes plc by 6.0%, owning approximately 477,183 shares valued at $15.76 million following recent purchases.
• Alkermes reported an earnings per share (EPS) of $0.52 for the last quarter, exceeding analyst estimates of $0.42, with revenue of $390.66 million.
• Wall Street analysts have shown increased confidence in Alkermes, with several firms upgrading their ratings and the average target price now at $41.85.

Voya Investment Management LLC grew its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 477,183 shares of the company's stock after purchasing an additional 27,136 shares during the period. Voya Investment Management LLC owned approximately 0.29% of Alkermes worth $15,757,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Baird Financial Group Inc. acquired a new stake in shares of Alkermes during the first quarter valued at approximately $587,000. Intech Investment Management LLC raised its holdings in shares of Alkermes by 25.6% during the first quarter. Intech Investment Management LLC now owns 85,564 shares of the company's stock valued at $2,825,000 after acquiring an additional 17,413 shares during the period. Ritholtz Wealth Management acquired a new stake in shares of Alkermes during the first quarter valued at approximately $348,000. Victory Capital Management Inc. raised its holdings in shares of Alkermes by 30.9% during the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock valued at $3,995,000 after acquiring an additional 28,596 shares during the period. Finally, GAMMA Investing LLC increased its stake 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. 95.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALKS shares. HC Wainwright reiterated a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research report on Tuesday, September 9th. Needham & Company LLC set a $43.00 target price on shares of Alkermes in a research report on Tuesday, September 9th. Royal Bank Of Canada increased their target price on shares of Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Wells Fargo & Company upgraded shares of Alkermes to a "strong-buy" rating in a research report on Wednesday, September 3rd. Finally, UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and increased their target price for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $41.85.

Alkermes Trading Down 2.7%

Shares of ALKS traded down $0.76 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. 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 business has a 50 day moving average price of $28.00 and a two-hundred day moving average price of $29.67. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45.

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

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.