337,603 Shares in Alkermes plc $ALKS Acquired by MPM Bioimpact LLC

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 purchased a new position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 337,603 shares of the company's stock, valued at approximately $11,148,000. Alkermes makes up approximately 1.9% of MPM Bioimpact LLC's investment portfolio, making the stock its 20th largest position. MPM Bioimpact LLC owned approximately 0.20% of Alkermes as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ALKS. Hsbc Holdings PLC raised its holdings in Alkermes by 125.9% during the fourth quarter. Hsbc Holdings PLC now owns 29,663 shares of the company's stock worth $856,000 after purchasing an additional 16,534 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Alkermes during the fourth quarter worth about $492,000. The Manufacturers Life Insurance Company raised its holdings in Alkermes by 0.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 196,831 shares of the company's stock worth $5,661,000 after purchasing an additional 1,088 shares in the last quarter. Northern Trust Corp raised its holdings in Alkermes by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,912,132 shares of the company's stock worth $54,993,000 after purchasing an additional 167,452 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Alkermes by 45.8% during the fourth quarter. BNP Paribas Financial Markets now owns 217,980 shares of the company's stock worth $6,269,000 after purchasing an additional 68,487 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total transaction of $103,654.06. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ALKS shares. Cantor Fitzgerald raised shares of Alkermes to a "strong-buy" rating in a report on Tuesday, May 13th. Royal Bank Of Canada increased their target price on shares of Alkermes from $40.00 to $42.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Alkermes in a report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 target price on shares of Alkermes in a report on Tuesday, July 29th. Finally, Wells Fargo & Company raised shares of Alkermes to a "strong-buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $41.31.

Alkermes Trading Up 3.5%

Shares of ALKS stock traded up $1.02 during trading hours on Friday, hitting $29.94. The company's stock had a trading volume of 2,501,695 shares, compared to its average volume of 1,412,814. The business has a fifty day moving average of $28.35 and a 200-day moving average of $30.10. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 1.72 and a beta of 0.53. Alkermes plc has a twelve month low of $25.56 and a twelve month high of $36.45.

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 the consensus estimate of $0.42 by $0.10. The business had revenue of $390.66 million for 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 company's quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, equities analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Alkermes Company 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.