Fox Run Management L.L.C. Trims Stock Position in Alkermes plc $ALKS

Key Points

• Fox Run Management L.L.C. reduced its holdings in Alkermes plc by 49.6%, selling 33,134 shares during the 1st quarter, leaving them with approximately $1.1 million worth of shares.
• Alkermes recently reported $0.52 earnings per share for the quarter, exceeding estimates of $0.42, despite a 2.1% decline in revenue year-over-year.
• UBS Group upgraded Alkermes from "neutral" to "buy," increasing its price target from $33 to $42, with several analysts giving the stock a consensus "Moderate Buy" rating and an average target price of $41.08.

Fox Run Management L.L.C. decreased its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 49.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,728 shares of the company's stock after selling 33,134 shares during the quarter. Fox Run Management L.L.C.'s holdings in Alkermes were worth $1,114,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALKS. RTW Investments LP lifted its stake in Alkermes by 13.6% in the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock worth $217,363,000 after purchasing an additional 903,802 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Alkermes by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company's stock valued at $172,860,000 after buying an additional 4,345,523 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Alkermes by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company's stock valued at $86,842,000 after buying an additional 128,701 shares in the last quarter. Avoro Capital Advisors LLC bought a new stake in Alkermes in the 4th quarter worth approximately $70,462,000. Finally, Nuveen LLC bought a new stake in Alkermes in the 1st quarter worth approximately $66,689,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ALKS shares. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird increased their price objective on shares of Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. UBS Group upgraded shares of Alkermes from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $42.00 in a report on Tuesday, June 17th. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Finally, HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 price target on shares of Alkermes in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $41.08.

Insider Buying and Selling

In other Alkermes 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 $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is owned by company insiders.

Alkermes Stock Performance

NASDAQ ALKS traded up $0.12 during trading on Wednesday, hitting $28.97. The stock had a trading volume of 810,323 shares, compared to its average volume of 1,813,427. Alkermes plc has a one year low of $25.56 and a one year high of $36.45. The stock has a 50 day simple moving average of $28.38 and a 200 day simple moving average of $30.49. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 1.65 and a beta of 0.47.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.52 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 firm 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 firm posted $1.16 earnings per share. The company's quarterly revenue was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, sell-side analysts predict that Alkermes plc will post 1.31 EPS for the current year.

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.