Invesco Ltd. Buys 13,580 Shares of Alkermes plc $ALKS

Key Points

• Invesco Ltd. has increased its stake in Alkermes plc by 1.9%, now owning 735,496 shares valued at approximately $24.29 million.
• JPMorgan Chase & Co. significantly boosted its position in Alkermes by 488.6%, acquiring over 4.3 million additional shares during the first quarter.
• In its latest earnings report, Alkermes surpassed analysts' expectations with earnings per share of $0.52, against a consensus estimate of $0.42.

Invesco Ltd. raised its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 735,496 shares of the company's stock after buying an additional 13,580 shares during the quarter. Invesco Ltd. owned about 0.45% of Alkermes worth $24,286,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ALKS. USA Financial Formulas bought a new stake in shares of Alkermes in the 1st quarter worth approximately $49,000. Fifth Third Bancorp grew its position in shares of Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after buying an additional 521 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of Alkermes in the 4th quarter worth approximately $98,000. GAMMA Investing LLC grew its position in shares of Alkermes by 31.9% in the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock worth $178,000 after buying an additional 1,305 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Alkermes in the 1st quarter worth approximately $204,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Stock Performance

Shares of NASDAQ ALKS traded down $0.02 during mid-day trading on Tuesday, hitting $28.98. 1,235,604 shares of the stock traded hands, compared to its average volume of 1,660,229. Alkermes plc has a 52 week low of $25.56 and a 52 week high of $36.45. The company has a market cap of $4.78 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.67 and a beta of 0.47. The stock has a fifty day moving average price of $28.32 and a 200-day moving average price of $30.43.

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, beating the consensus estimate of $0.42 by $0.10. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The company had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. During the same period in the previous year, the company posted $1.16 earnings per share. The firm'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. As a group, sell-side analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the business's 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Cantor Fitzgerald upgraded Alkermes to a "strong-buy" rating in a research report on Tuesday, May 13th. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Robert W. Baird lifted their price target on Alkermes from $38.00 to $41.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group initiated coverage on Alkermes in a research report on Tuesday, July 15th. They set a "buy" rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and an average target price 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.