Informed Momentum Co LLC Invests $5.25 Million in Alkermes plc (NASDAQ:ALKS)

Key Points

• Informed Momentum Co LLC has acquired a new stake in Alkermes plc, purchasing 159,055 shares valued at approximately $5.25 million, which now constitutes 0.9% of their portfolio.
• Alkermes shares recently reported a quarterly earnings of $0.52 per share, surpassing the consensus estimate of $0.42, despite a 2.1% decline in revenue year-over-year.
• Analysts have issued a consensus rating of "Moderate Buy" for Alkermes, with an average target price of $41.08, reflecting optimism in the stock's potential.

Informed Momentum Co LLC bought a new stake in Alkermes plc (NASDAQ:ALKS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 159,055 shares of the company's stock, valued at approximately $5,252,000. Alkermes comprises 0.9% of Informed Momentum Co LLC's portfolio, making the stock its 7th biggest position. Informed Momentum Co LLC owned approximately 0.10% of Alkermes as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Alkermes by 488.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company's stock valued at $172,860,000 after acquiring an additional 4,345,523 shares during the last quarter. Avoro Capital Advisors LLC acquired a new stake in Alkermes during the 4th quarter worth about $70,462,000. Nuveen LLC acquired a new stake in Alkermes during the 1st quarter worth about $66,689,000. RTW Investments LP grew its holdings 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 period. Finally, Nuveen Asset Management LLC grew its holdings 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 period. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Stock Performance

ALKS stock traded up $0.79 during midday trading on Friday, reaching $29.05. 1,590,931 shares of the company's stock traded hands, compared to its average volume of 2,053,437. The company has a 50-day moving average price of $28.53 and a two-hundred day moving average price of $30.55. Alkermes plc has a 52 week low of $25.56 and a 52 week high of $36.45. The firm has a market capitalization of $4.80 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.61 and a beta of 0.47.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly 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. The firm had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The business's revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. As a group, analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insider Activity at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the company's 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 transaction, the senior vice president directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank Of Canada lifted their price target on Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price target on shares of Alkermes in a research note on Tuesday, July 29th. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and lifted their price target for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. HC Wainwright restated a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research note on Monday, July 21st. Finally, Wall Street Zen downgraded Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alkermes presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.08.

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.