Alkermes plc $ALKS Shares Purchased by Baker BROS. Advisors LP

Key Points

• Baker BROS. Advisors LP has increased its stake in Alkermes plc to approximately $148.04 million, accounting for 1.8% of its overall portfolio.
• Wall Street analysts generally hold a positive outlook on Alkermes, with an average price target of $41.08 and several firms upgrading their ratings recently.
• Alkermes reported earnings of $0.52 per share for the last quarter, surpassing estimates and generating revenue of $390.66 million, despite a decline of 2.1% year-over-year.

Baker BROS. Advisors LP grew its stake in Alkermes plc (NASDAQ:ALKS - Free Report) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,483,285 shares of the company's stock after acquiring an additional 301,534 shares during the quarter. Alkermes comprises approximately 1.8% of Baker BROS. Advisors LP's portfolio, making the stock its 10th biggest holding. Baker BROS. Advisors LP owned approximately 2.72% of Alkermes worth $148,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ALKS. Twin Tree Management LP purchased a new position in Alkermes during the first quarter worth about $29,000. Brooklyn Investment Group lifted its position in Alkermes by 1,071.1% during the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock worth $35,000 after buying an additional 964 shares during the period. Quantbot Technologies LP lifted its position in Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock worth $36,000 after buying an additional 385 shares during the period. USA Financial Formulas purchased a new position in Alkermes during the first quarter worth about $49,000. Finally, Fifth Third Bancorp lifted its position in Alkermes by 54.4% during the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after buying an additional 521 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Stock Performance

Shares of ALKS stock traded up $1.02 during trading hours on Friday, reaching $29.94. The company had a trading volume of 2,501,695 shares, compared to its average volume of 1,412,814. Alkermes plc has a twelve month low of $25.56 and a twelve month high of $36.45. The company has a market capitalization of $4.94 billion, a P/E ratio of 14.39, a price-to-earnings-growth ratio of 1.72 and a beta of 0.53. The stock's fifty day simple moving average is $28.35 and its 200 day simple moving average is $30.10.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. During the same quarter last year, the firm earned $1.16 earnings per share. The company's revenue for the quarter 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, equities analysts expect that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Activity

In other news, SVP Christian Todd Nichols sold 3,334 shares of the 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 completion of the sale, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALKS. Needham & Company LLC reiterated a "buy" rating and set a $45.00 target price on shares of Alkermes in a research report on Tuesday, July 29th. HC Wainwright reiterated a "neutral" rating and set a $46.00 target price on shares of Alkermes in a research report on Monday, July 21st. The Goldman Sachs Group began coverage on Alkermes in a report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price objective on the stock. Royal Bank Of Canada raised their price objective on Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $41.31.

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.