Alkermes plc $ALKS Stake Boosted by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Alkermes plc by 173.3% in Q1, totaling 81,056 shares valued at approximately $2.64 million.
• Analysts are optimistic about Alkermes, with multiple firms issuing Buy or Strong Buy ratings and raising target prices, notably UBS's upgrade to a target of $42.00.
• Alkermes reported earnings of $0.52 EPS for the latest quarter, surpassing estimates, despite a slight year-over-year revenue decline of 2.1%.

Hsbc Holdings PLC grew its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 173.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,056 shares of the company's stock after acquiring an additional 51,393 shares during the period. Hsbc Holdings PLC's holdings in Alkermes were worth $2,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group grew its holdings in shares of Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock valued at $35,000 after acquiring an additional 964 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock valued at $36,000 after purchasing an additional 385 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Alkermes in the 1st quarter valued at $49,000. Fifth Third Bancorp lifted its stake in shares of Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock valued at $49,000 after purchasing an additional 521 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Alkermes in the 4th quarter valued at $98,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALKS shares. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. The Goldman Sachs Group started coverage on shares of Alkermes in a research note on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price objective for the company. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. HC Wainwright reissued a "neutral" rating and set a $46.00 target price on shares of Alkermes in a research report on Monday, July 21st. Finally, Robert W. Baird boosted their target price on shares of Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $41.08.

Alkermes Stock Performance

Shares of ALKS opened at $28.98 on Wednesday. The company has a 50-day simple moving average of $28.32 and a 200-day simple moving average of $30.43. The firm has a market capitalization of $4.78 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.67 and a beta of 0.47. Alkermes plc has a 52 week low of $25.56 and a 52 week 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 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. The business had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior 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, equities analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Activity at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were 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 owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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