American Century Companies Inc. Grows Holdings in Alkermes plc $ALKS

Key Points

• American Century Companies Inc. increased its stake in Alkermes plc by 0.4%, acquiring an additional 14,967 shares, totaling 3,465,674 shares valued at approximately $114 million.
• Several analysts have upgraded their price targets for Alkermes, with Robert W. Baird raising it to $41 and Goldman Sachs setting a target of $43, reflecting positive sentiment among analysts.
• Alkermes reported earnings per share of $0.52, exceeding estimates, although revenue decreased by 2.1% year-over-year.

American Century Companies Inc. grew its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 0.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,465,674 shares of the company's stock after acquiring an additional 14,967 shares during the period. American Century Companies Inc. owned about 2.10% of Alkermes worth $114,437,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. USA Financial Formulas purchased a new stake in shares of Alkermes in the 1st quarter valued at approximately $49,000. Fifth Third Bancorp raised 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 acquiring an additional 521 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of Alkermes in the 4th quarter valued at approximately $98,000. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 1,305 shares during the period. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Alkermes in the 4th quarter valued at approximately $204,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALKS. Robert W. Baird lifted their price objective on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. The Goldman Sachs Group began coverage on shares of Alkermes in a report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price objective for the company. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. UBS Group upgraded 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 report on Tuesday, June 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $41.08.

Alkermes Price Performance

Shares of NASDAQ:ALKS traded up $0.73 during trading on Friday, hitting $29.79. 520,398 shares of the company were exchanged, compared to its average volume of 1,752,016. The stock has a market capitalization of $4.92 billion, a P/E ratio of 14.32, a PEG ratio of 1.66 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 firm's 50 day moving average price is $28.35 and its 200-day moving average price is $30.48.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate 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%. The company's revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, equities research analysts anticipate 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.