17,764 Shares in Alkermes plc $ALKS Purchased by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. acquired a new stake in Alkermes plc, purchasing 17,764 shares valued at approximately $587,000 in the first quarter.
• Alkermes reported $0.52 earnings per share for the last quarter, surpassing the consensus estimate by $0.10 and its revenues totaled $390.66 million, exceeding expectations.
• Recent analyst ratings for Alkermes include a "buy" rating from Goldman Sachs with a price target of $43.00, while the stock has a consensus rating of "Moderate Buy" and an average price target of $42.00.

Baird Financial Group Inc. acquired a new stake in Alkermes plc (NASDAQ:ALKS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 17,764 shares of the company's stock, valued at approximately $587,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group lifted its stake in shares of Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock worth $35,000 after acquiring an additional 964 shares in the last quarter. Quantbot Technologies LP increased its holdings in Alkermes by 54.5% during the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock worth $36,000 after purchasing an additional 385 shares during the last quarter. USA Financial Formulas purchased a new stake in Alkermes during the 1st quarter worth approximately $49,000. Fifth Third Bancorp raised its position 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 purchasing an additional 521 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Alkermes during the 4th quarter valued at approximately $98,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALKS. Royal Bank Of Canada raised their price target 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. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $33.00 to $42.00 in a report on Tuesday, June 17th. Wells Fargo & Company raised shares of Alkermes to a "strong-buy" rating in a research report on Wednesday, September 3rd. HC Wainwright restated a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research note on Tuesday, September 9th. Finally, Needham & Company LLC set a $43.00 price target on Alkermes in a research note 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.85.

Alkermes Price Performance

Shares of NASDAQ:ALKS traded up $0.87 during trading on Tuesday, reaching $27.39. 2,141,620 shares of the company's stock traded hands, compared to its average volume of 1,923,106. The stock has a market capitalization of $4.52 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.49 and a beta of 0.53. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The company has a 50 day moving average of $28.13 and a 200-day moving average of $29.77.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. The firm had revenue of $390.66 million for 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%. Alkermes's revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities research analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

About Alkermes

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.