Ameriprise Financial Inc. lessened its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 17.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 397,519 shares of the company's stock after selling 83,441 shares during the quarter. Ameriprise Financial Inc. owned about 0.25% of Alkermes worth $11,433,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Avoro Capital Advisors LLC purchased a new position in shares of Alkermes during the fourth quarter worth $70,462,000. Norges Bank purchased a new stake in Alkermes during the 4th quarter worth about $56,684,000. JPMorgan Chase & Co. lifted its holdings in Alkermes by 147.4% during the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock worth $25,581,000 after buying an additional 529,962 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Alkermes during the fourth quarter worth about $12,293,000. Finally, Loomis Sayles & Co. L P increased its position in shares of Alkermes by 22.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 2,302,905 shares of the company's stock worth $66,232,000 after purchasing an additional 419,969 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.
Alkermes Price Performance
NASDAQ:ALKS traded down $0.70 during mid-day trading on Friday, reaching $29.35. The stock had a trading volume of 2,005,528 shares, compared to its average volume of 1,758,396. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 2.20 and a beta of 0.51. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $36.45. The stock's 50 day simple moving average is $30.23 and its two-hundred day simple moving average is $30.82.
Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The firm had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same quarter last year, the business posted $0.43 earnings per share. The firm's revenue for the quarter was down 12.6% on a year-over-year basis. Sell-side analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on ALKS. Royal Bank of Canada boosted their price target on Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. The Goldman Sachs Group upped their price target on Alkermes from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. Robert W. Baird raised their price objective on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Alkermes from $40.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.33.
Check Out Our Latest Stock Analysis on Alkermes
Alkermes Profile
(
Free Report)
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.
Further Reading
Before you consider Alkermes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alkermes wasn't on the list.
While Alkermes currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
