MPM Bioimpact LLC Invests $11.15 Million in Alkermes plc $ALKS

Key Points

• MPM Bioimpact LLC acquired 337,603 shares of Alkermes plc, valued at approximately $11.15 million, making it the 20th largest position in their investment portfolio.
• Alkermes reported a quarterly earnings per share (EPS) of $0.52, exceeding analysts' expectations, despite a 2.1% decline in revenue compared to the previous year.
• Institutional investors own approximately 95.21% of Alkermes, with analysts currently rating the stock as a "Moderate Buy" and setting an average price target of $41.08.

MPM Bioimpact LLC acquired a new stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 337,603 shares of the company's stock, valued at approximately $11,148,000. Alkermes accounts for about 1.9% of MPM Bioimpact LLC's investment portfolio, making the stock its 20th biggest holding. MPM Bioimpact LLC owned approximately 0.20% of Alkermes at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. RTW Investments LP boosted its position 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. JPMorgan Chase & Co. raised its position 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 period. Baker BROS. Advisors LP raised its position in Alkermes by 7.2% during the first quarter. Baker BROS. Advisors LP now owns 4,483,285 shares of the company's stock valued at $148,038,000 after buying an additional 301,534 shares during the period. American Century Companies Inc. raised its position in Alkermes by 0.4% during the first quarter. American Century Companies Inc. now owns 3,465,674 shares of the company's stock valued at $114,437,000 after buying an additional 14,967 shares during the period. Finally, Nuveen LLC acquired a new position in Alkermes in the 1st quarter worth about $66,689,000. Institutional investors and hedge funds own 95.21% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ALKS shares. UBS Group upgraded Alkermes from a "neutral" rating to a "buy" rating and upped their price target for the stock from $33.00 to $42.00 in a research note on Tuesday, June 17th. Wells Fargo & Company raised Alkermes to a "strong-buy" rating in a report on Wednesday. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 price target on shares of Alkermes in a report on Monday, July 21st. The Goldman Sachs Group started coverage on Alkermes in a report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 target price for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of Alkermes in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Alkermes has an average rating of "Moderate Buy" and an average price target of $41.31.

Insider Activity

In related news, SVP Christian Todd Nichols sold 3,334 shares of the business'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 value of $103,654.06. Following the completion of the sale, the senior vice president directly owned 86,208 shares in the company, valued at approximately $2,680,206.72. The trade was a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company's stock.

Alkermes Price Performance

Shares of ALKS traded up $1.02 during midday trading on Friday, hitting $29.94. The stock had a trading volume of 2,501,695 shares, compared to its average volume of 1,356,272. The company has a 50 day simple moving average of $28.35 and a two-hundred day simple moving average of $30.18. Alkermes plc has a twelve month low of $25.56 and a twelve month high of $36.45. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.53.

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 return on equity of 24.86% and a net margin of 23.15%.The business 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 business earned $1.16 earnings per share. Alkermes'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. Analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal 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.