MetLife Investment Management LLC Increases Position in Alkermes plc $ALKS

Key Points

• MetLife Investment Management LLC increased its stake in Alkermes plc by 487.0% during the 1st quarter, owning approximately 0.34% of the company, valued at around $18.7 million.
• Several institutional investors, including Brooklyn Investment Group and Quantbot Technologies LP, also significantly boosted their holdings in Alkermes, indicating strong institutional interest.
• Alkermes reported earnings of $0.52 per share for the last quarter, exceeding analysts' expectations, and provided FY 2025 guidance with projected EPS ranging from 1.030 to 1.210.

MetLife Investment Management LLC boosted its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 487.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 567,621 shares of the company's stock after buying an additional 470,926 shares during the period. MetLife Investment Management LLC owned 0.34% of Alkermes worth $18,743,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ALKS. JPMorgan Chase & Co. increased its stake in Alkermes by 488.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company's stock worth $172,860,000 after buying an additional 4,345,523 shares in the last quarter. Nuveen LLC bought a new position in Alkermes during the first quarter valued at approximately $66,689,000. RTW Investments LP boosted its stake in Alkermes by 13.6% during the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock valued at $217,363,000 after buying an additional 903,802 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Alkermes by 109.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company's stock valued at $47,736,000 after buying an additional 867,492 shares during the last quarter. Finally, Stempoint Capital LP boosted its stake in Alkermes by 752.4% during the fourth quarter. Stempoint Capital LP now owns 416,968 shares of the company's stock valued at $11,992,000 after buying an additional 368,050 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 3,334 shares of Alkermes 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 owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank Of Canada increased 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. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and increased their price target for the company from $33.00 to $42.00 in a research note on Tuesday, June 17th. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of Alkermes in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group assumed coverage on Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.08.

Alkermes Stock Up 0.9%

ALKS traded up $0.27 on Wednesday, hitting $29.25. The company had a trading volume of 1,235,570 shares, compared to its average volume of 1,557,096. The company has a market cap of $4.83 billion, a PE ratio of 14.06, a PEG ratio of 1.67 and a beta of 0.47. Alkermes plc has a 12-month low of $25.56 and a 12-month high of $36.45. The business's fifty day simple moving average is $28.32 and its 200 day simple moving average is $30.42.

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, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The firm's revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

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.