Alkermes plc $ALKS Shares Acquired by Canada Pension Plan Investment Board

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 holdings in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ALKS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after purchasing an additional 311 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of 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 purchasing an additional 385 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in shares of Alkermes by 3.8% during the first quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock worth $408,000 after purchasing an additional 450 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Alkermes by 3.8% during the first quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company's stock worth $408,000 after purchasing an additional 451 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of 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 purchasing an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company upgraded Alkermes to a "strong-buy" rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada upped their price target on shares of Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 price target on shares of Alkermes in a research note on Monday, July 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of Alkermes in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group assumed coverage on shares of Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.31.

Alkermes Price Performance

NASDAQ:ALKS traded down $1.78 on Monday, reaching $28.16. The stock had a trading volume of 1,488,059 shares, compared to its average volume of 1,750,461. The firm's fifty day moving average is $28.35 and its two-hundred day moving average is $30.10. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.45. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 1.72 and a beta of 0.53.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly 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 analyst estimates of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The firm's quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the transaction, the senior vice president directly owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company's stock.

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.