Northern Trust Corp Has $61.98 Million Position in Alkermes plc $ALKS

Key Points

• Northern Trust Corp reduced its stake in Alkermes plc by 1.8%, selling 35,242 shares and holding approximately 1.14% of the company valued at $61.98 million.
• JPMorgan Chase & Co. significantly increased its holdings in Alkermes by 488.6% during the first quarter, now owning over 5.23 million shares worth approximately $172.86 million.
• Alkermes reported $0.52 EPS for the last quarter, exceeding estimates, with revenue of $390.66 million, although this is a 2.1% decline compared to the same quarter last year.

Northern Trust Corp trimmed its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,876,890 shares of the company's stock after selling 35,242 shares during the quarter. Northern Trust Corp owned 1.14% of Alkermes worth $61,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group lifted its holdings in Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company's stock valued at $35,000 after acquiring an additional 964 shares during the last quarter. USA Financial Formulas purchased a new position in Alkermes in the 1st quarter worth about $49,000. Fifth Third Bancorp increased its stake in 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 purchasing an additional 521 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Alkermes in the 4th quarter worth about $98,000. Finally, GAMMA Investing LLC increased its stake in 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 purchasing an additional 1,305 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Stock Performance

Shares of NASDAQ:ALKS traded up $0.04 during midday trading on Friday, hitting $28.97. The company's stock had a trading volume of 1,426,735 shares, compared to its average volume of 1,308,370. The stock has a market capitalization 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's 50 day simple moving average is $28.31 and its 200 day simple moving average is $30.36. Alkermes plc has a fifty-two week low of $25.56 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10. The company had revenue of $390.66 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Insider Activity at Alkermes

In other news, SVP Christian Todd Nichols sold 3,334 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the transaction, the senior vice president owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of Alkermes in a research note on Tuesday, July 29th. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and upped their target price for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. HC Wainwright reaffirmed a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a research report on Monday, July 21st. Finally, The Goldman Sachs Group started coverage on Alkermes in a research report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.08.

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.