Assenagon Asset Management S.A. Has $2.40 Million Position in Alkermes plc $ALKS

Key Points

• Assenagon Asset Management S.A. increased its holdings in Alkermes plc by 23.5%, totaling a position valued at $2.4 million with 84,017 shares.
• Alkermes reported earnings per share of $0.52 in the last quarter, surpassing estimates of $0.42, while quarterly revenue showed a 2.1% decline year-over-year.
• Recent analyst reports indicate a generally positive outlook for Alkermes, with many upgrades and an average price target of $41.85 among equity research analysts.

Assenagon Asset Management S.A. raised its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 23.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,017 shares of the company's stock after buying an additional 15,968 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Alkermes worth $2,404,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALKS. Cetera Investment Advisers raised its position in Alkermes by 10.4% in the fourth quarter. Cetera Investment Advisers now owns 10,645 shares of the company's stock worth $306,000 after purchasing an additional 999 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Alkermes by 14.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 462,241 shares of the company's stock valued at $13,294,000 after purchasing an additional 56,859 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Alkermes in the 4th quarter valued at approximately $3,273,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Alkermes by 60.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,107 shares of the company's stock worth $463,000 after buying an additional 6,073 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Alkermes by 4,255.3% in the 1st quarter. GAMMA Investing LLC now owns 178,176 shares of the company's stock worth $5,396,000 after buying an additional 174,085 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Down 2.4%

Alkermes stock opened at $27.13 on Friday. The stock has a 50-day simple moving average of $27.87 and a 200 day simple moving average of $29.47. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.56 and a beta of 0.53. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The firm had revenue of $390.66 million during the quarter, compared to analysts' expectations of $343.20 million. During the same quarter last year, the company posted $1.16 EPS. The company's quarterly revenue was down 2.1% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, sell-side analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

ALKS has been the topic of several recent analyst reports. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 price target on shares of Alkermes in a research note on Tuesday, September 9th. JPMorgan Chase & Co. boosted their target price on shares of Alkermes from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, September 9th. The Goldman Sachs Group started coverage on shares of Alkermes in a research report on Tuesday, July 15th. They set a "buy" rating and a $43.00 target price for the company. Needham & Company LLC set a $43.00 price target on shares of Alkermes in a report on Tuesday, September 9th. Finally, UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and boosted their price target for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. Two equities research analysts have 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.com, Alkermes has an average rating of "Moderate Buy" and an average price target of $41.85.

Alkermes 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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