Amundi Has $2.13 Million Position in Alkermes plc $ALKS

Key Points

• Amundi has reduced its stake in Alkermes plc (ALKS) by 19.5%, now holding 67,345 shares valued at approximately $2.13 million.
• Several investment firms have upgraded Alkermes' stock ratings, including UBS Group and Wells Fargo, with a consensus price target of $41.85.
• Alkermes reported earnings per share of $0.52 for the last quarter, exceeding expectations and indicating a revenue of $390.66 million despite a year-over-year decline.

Amundi reduced its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 67,345 shares of the company's stock after selling 16,318 shares during the quarter. Amundi's holdings in Alkermes were worth $2,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Twin Tree Management LP acquired a new stake in Alkermes in the first quarter valued at $29,000. Brooklyn Investment Group increased its holdings in Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock valued at $35,000 after purchasing an additional 964 shares during the period. Quantbot Technologies LP increased its holdings in Alkermes by 54.5% in the first 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 period. USA Financial Formulas acquired a new stake in shares of Alkermes in the first quarter valued at about $49,000. Finally, Fifth Third Bancorp increased its stake in shares of Alkermes by 54.4% in the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock valued at $49,000 after buying an additional 521 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Stock Up 1.8%

NASDAQ:ALKS traded up $0.48 during trading hours on Wednesday, reaching $27.87. The company had a trading volume of 2,246,073 shares, compared to its average volume of 1,913,548. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.54 and a beta of 0.53. The business's 50-day simple moving average is $28.09 and its two-hundred day simple moving average is $29.76. Alkermes plc has a twelve month low of $25.17 and a twelve 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 EPS 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 analysts' expectations of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The business's quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, equities analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ALKS. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and increased their price target for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. 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 price objective 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. The Goldman Sachs Group began coverage on shares of Alkermes in a research report on Tuesday, July 15th. They set a "buy" rating and a $43.00 price objective for the company. Finally, HC Wainwright reiterated a "neutral" rating and set a $46.00 price target on shares of Alkermes in a report on Tuesday, September 9th. Two analysts have 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, Alkermes has a consensus rating of "Moderate Buy" and a consensus price target of $41.85.

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.