Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of 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 bought 47,738 shares of the company's stock, valued at approximately $1,576,000.
A number of other large investors have also bought and sold shares of ALKS. RTW Investments LP boosted its position in Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock worth $217,363,000 after acquiring an additional 903,802 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Alkermes by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company's stock worth $86,842,000 after acquiring an additional 128,701 shares during the last quarter. Avoro Capital Advisors LLC acquired a new position in Alkermes during the 4th quarter worth approximately $70,462,000. Northern Trust Corp boosted its position in Alkermes by 9.6% during the 4th quarter. Northern Trust Corp now owns 1,912,132 shares of the company's stock worth $54,993,000 after acquiring an additional 167,452 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Alkermes by 109.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock worth $47,736,000 after acquiring an additional 867,492 shares during the last quarter. 95.21% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total value of $103,654.06. Following the sale, the senior vice president owned 86,208 shares in the company, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.40% of the company's stock.
Alkermes Stock Performance
ALKS traded up $0.09 during trading hours on Thursday, reaching $29.06. The company's stock had a trading volume of 848,294 shares, compared to its average volume of 1,756,981. Alkermes plc has a 52 week low of $25.56 and a 52 week high of $36.45. The company's 50-day moving average is $28.35 and its 200-day moving average is $30.48. The firm has a market cap of $4.80 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.66 and a beta of 0.47.
Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share 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 for the quarter, compared to analysts' expectations of $343.20 million. During the same quarter in the prior year, the business earned $1.16 EPS. The firm's revenue for the quarter was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ALKS has been the subject of a number of recent research reports. Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and upped their price target for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Royal Bank Of Canada upped their price target on Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group started coverage on Alkermes in a research report on Tuesday, July 15th. They set a "buy" rating and a $43.00 price target for the company. Finally, Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.08.
View Our Latest Analysis on Alkermes
About Alkermes
(
Free Report)
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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