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Jefferies Financial Group Inc. Invests $410,000 in Alkermes plc (NASDAQ:ALKS)

Alkermes logo with Medical background

Key Points

  • Jefferies Financial Group Inc. invested approximately $410,000 in Alkermes plc, acquiring 12,417 shares during the first quarter as disclosed in a recent SEC filing.
  • Institutional investors now hold 95.21% of Alkermes' stock, with notable increases in holdings from firms like RTW Investments and Nuveen Asset Management during the fourth quarter.
  • Alkermes last reported earnings with $0.52 per share, exceeding analyst expectations, while the company's revenue fell 2.1% year-over-year to $390.66 million.
  • Looking to Export and Analyze Alkermes Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Jefferies Financial Group Inc. acquired a new stake in Alkermes plc (NASDAQ:ALKS - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 12,417 shares of the company's stock, valued at approximately $410,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alkermes by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after buying an additional 311 shares in the last quarter. Hohimer Wealth Management LLC grew its position in Alkermes by 3.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock worth $408,000 after acquiring an additional 450 shares during the last quarter. Fifth Third Bancorp grew its position in Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after acquiring an additional 521 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in Alkermes by 3.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 14,203 shares of the company's stock worth $408,000 after acquiring an additional 532 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Alkermes by 1.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,035 shares of the company's stock worth $1,289,000 after acquiring an additional 699 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Christian Todd Nichols sold 3,334 shares of the company'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. This represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by insiders.

Alkermes Trading Up 0.5%

NASDAQ ALKS traded up $0.12 during trading hours on Friday, hitting $26.71. 1,371,383 shares of the company's stock were exchanged, compared to its average volume of 2,159,947. The stock has a 50-day simple moving average of $28.87 and a 200 day simple moving average of $30.66. Alkermes plc has a 1-year low of $25.56 and a 1-year high of $36.45. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.52 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The company had revenue of $390.66 million for the quarter, compared to the consensus estimate of $343.20 million. During the same quarter in the previous year, the company earned $1.16 EPS. Alkermes's quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Alkermes in a research report on Tuesday, July 15th. They set a "buy" rating and a $43.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of Alkermes in a research report on Tuesday, July 29th. Robert W. Baird boosted their price objective on Alkermes from $38.00 to $41.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Wall Street Zen lowered Alkermes from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Finally, UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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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Institutional Ownership by Quarter for Alkermes (NASDAQ:ALKS)

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