Canada Pension Plan Investment Board Has $10.09 Million Stock Position in Alkermes plc $ALKS

Key Points

• The Canada Pension Plan Investment Board increased its stake in Alkermes plc by 3.3%, acquiring an additional 9,900 shares during the first quarter, totaling 305,500 shares valued at approximately $10.1 million.
• Alkermes reported a quarterly earnings per share (EPS) of $0.52, surpassing analysts' expectations of $0.42, with a revenue of $390.66 million, which was above the anticipated $343.20 million.
• Analysts have a consensus rating of "Moderate Buy" on Alkermes, with price targets ranging from $40 to $46 set by various brokerages, indicating positive sentiment towards the company's stock performance.

Canada Pension Plan Investment Board increased its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 305,500 shares of the company's stock after purchasing an additional 9,900 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.19% of Alkermes worth $10,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALKS. Brooklyn Investment Group lifted its stake in shares of Alkermes by 1,071.1% in the 1st 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 lifted its stake in shares of Alkermes by 54.5% in the 1st 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 position in shares of Alkermes in the 1st quarter valued at $49,000. Fifth Third Bancorp lifted 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 purchasing an additional 521 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Alkermes during the 4th quarter worth about $98,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were 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 directly owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $45.00 target price on shares of Alkermes in a research report on Tuesday, July 29th. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group assumed coverage on Alkermes in a research report on Tuesday, July 15th. They set a "buy" rating and a $43.00 target price for the company. Wells Fargo & Company upgraded Alkermes to a "strong-buy" rating in a research report on Wednesday. Finally, Royal Bank Of Canada boosted their target price on Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $41.31.

Alkermes Price Performance

NASDAQ:ALKS traded up $1.02 during trading hours on Friday, reaching $29.94. 2,501,695 shares of the stock were exchanged, compared to its average volume of 1,356,272. Alkermes plc has a twelve month low of $25.56 and a twelve month high of $36.45. The firm has a 50 day moving average of $28.35 and a 200 day moving average of $30.14. The stock has a market cap of $4.94 billion, a PE ratio of 14.39, a PEG ratio of 1.72 and a beta of 0.53.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping 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 firm had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. During the same quarter in the prior year, the firm posted $1.16 EPS. The business's revenue was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities research analysts anticipate that Alkermes plc will post 1.31 earnings per share 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.