PDT Partners LLC Increases Stock Position in Alkermes plc $ALKS

Key Points

• PDT Partners LLC increased its holdings in Alkermes plc by 26.4%, acquiring an additional 27,436 shares, bringing its total ownership to 131,383 shares valued at approximately $4.34 million.
• Alkermes reported earnings per share of $0.52 for the last quarter, surpassing analyst estimates, with a revenue of $390.66 million, down 2.1% from the previous year.
• Analysts have a consensus rating of "Moderate Buy" on Alkermes, with a target price averaging around $41.08 following recent upgrades by several firms, including UBS Group.

PDT Partners LLC raised its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 26.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,383 shares of the company's stock after purchasing an additional 27,436 shares during the quarter. PDT Partners LLC owned 0.08% of Alkermes worth $4,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Ritholtz Wealth Management purchased a new stake in Alkermes in the 1st quarter valued at approximately $348,000. Victory Capital Management Inc. boosted its holdings in Alkermes by 30.9% in the 1st quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock valued at $3,995,000 after purchasing an additional 28,596 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Alkermes by 31.9% during the 1st quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock worth $178,000 after acquiring an additional 1,305 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Alkermes by 9.7% during the 4th quarter. Captrust Financial Advisors now owns 18,362 shares of the company's stock worth $528,000 after acquiring an additional 1,619 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Stock Up 3.5%

Shares of Alkermes stock traded up $1.02 during trading on Friday, hitting $29.94. 2,501,695 shares of the company were exchanged, compared to its average volume of 1,356,272. Alkermes plc has a fifty-two week low of $25.56 and a fifty-two week high of $36.45. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 1.66 and a beta of 0.53. The firm has a 50 day moving average price of $28.35 and a 200 day moving average price of $30.18.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The firm had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. During the same period in the previous year, the firm posted $1.16 EPS. The company's quarterly revenue was down 2.1% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

ALKS has been the topic of several research analyst reports. HC Wainwright reissued a "neutral" rating and set a $46.00 price target on shares of Alkermes in a research note on Monday, July 21st. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and boosted 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 research note on Wednesday. Cantor Fitzgerald raised Alkermes to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group initiated coverage on Alkermes in a research note on Tuesday, July 15th. They set a "buy" rating and a $43.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.31.

Insiders Place Their Bets

In other Alkermes news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company's stock.

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.