Alkermes plc (NASDAQ:ALKS) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in Alkermes plc by 245.2%, owning 54,347 shares valued at approximately $1.8 million as of the recent SEC filing.
• Alkermes reported earnings of $0.52 per share for the last quarter, surpassing analysts' expectations by $0.10 and experiencing a 2.1% decline in revenue year-over-year.
• Several analysts have updated their ratings on Alkermes, with Royal Bank of Canada increasing its price target to $42.00, while UBS upgraded the stock from "neutral" to "buy".

XTX Topco Ltd increased its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 245.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,347 shares of the company's stock after buying an additional 38,602 shares during the period. XTX Topco Ltd's holdings in Alkermes were worth $1,795,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALKS. Sei Investments Co. boosted its position in shares of Alkermes by 1.1% during the fourth quarter. Sei Investments Co. now owns 75,394 shares of the company's stock valued at $2,168,000 after buying an additional 828 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alkermes by 147.4% during the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company's stock valued at $25,581,000 after buying an additional 529,962 shares during the period. Norges Bank purchased a new position in shares of Alkermes in the 4th quarter worth $56,684,000. Orion Portfolio Solutions LLC grew its holdings in shares of Alkermes by 12.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 10,577 shares of the company's stock worth $304,000 after acquiring an additional 1,133 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its holdings in Alkermes by 3.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock valued at $408,000 after acquiring an additional 532 shares during the period. Institutional investors own 95.21% of the company's stock.

Alkermes Trading Down 0.3%

Shares of ALKS stock traded down $0.07 during trading hours on Monday, hitting $26.48. The company's stock had a trading volume of 388,786 shares, compared to its average volume of 1,792,923. The stock has a market cap of $4.37 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.52 and a beta of 0.47. Alkermes plc has a 12-month low of $25.56 and a 12-month high of $36.45. The company has a 50 day moving average of $29.21 and a 200 day moving average of $30.78.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. Alkermes had a return on equity of 24.86% and a net margin of 23.15%. The firm had revenue of $390.66 million for the quarter, compared to the consensus estimate of $343.20 million. During the same quarter in the prior year, the business earned $1.16 earnings per share. The company's revenue was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the sale, the senior vice president directly owned 86,208 shares in the company, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALKS shares. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group started coverage on Alkermes in a report on Tuesday, July 15th. They set a "buy" rating and a $43.00 price target for the company. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and increased their target price for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Needham & Company LLC reissued a "buy" rating and set a $45.00 price objective on shares of Alkermes in a research note on Tuesday, July 29th. Finally, Robert W. Baird upped their price objective on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $41.08.

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.