Robeco Institutional Asset Management B.V. Buys 36,467 Shares of Alkermes plc $ALKS

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Alkermes plc by 47.5% during the second quarter, acquiring an additional 36,467 shares to own a total of 113,320 shares worth approximately $3.24 million.
• Alkermes reported $0.52 earnings per share for the most recent quarter, exceeding analysts' expectations of $0.42, while its quarterly revenue decreased by 2.1% compared to the previous year.
• JPMorgan Chase & Co. and other analysts have recently adjusted their price targets for Alkermes, with the average target price now set at $42.00 and a consensus rating of "Moderate Buy."

Robeco Institutional Asset Management B.V. increased its stake in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 47.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,320 shares of the company's stock after acquiring an additional 36,467 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.07% of Alkermes worth $3,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ALKS. JPMorgan Chase & Co. boosted its stake in Alkermes by 488.6% during the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company's stock worth $172,860,000 after acquiring an additional 4,345,523 shares in the last quarter. Nuveen LLC bought a new position in Alkermes during the first quarter worth $66,689,000. Acadian Asset Management LLC boosted its stake in Alkermes by 2,422.0% during the first quarter. Acadian Asset Management LLC now owns 881,827 shares of the company's stock worth $29,100,000 after acquiring an additional 846,861 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Alkermes during the first quarter worth $26,179,000. Finally, MetLife Investment Management LLC boosted its stake in Alkermes by 487.0% during the first quarter. MetLife Investment Management LLC now owns 567,621 shares of the company's stock worth $18,743,000 after acquiring an additional 470,926 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Alkermes Stock Performance

NASDAQ ALKS opened at $30.99 on Tuesday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45. The company has a 50-day simple moving average of $28.31 and a 200 day simple moving average of $29.21. The company has a market capitalization of $5.12 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.75 and a beta of 0.54.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The business had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. During the same quarter last year, the company posted $1.16 earnings per share. The firm'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. As a group, analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on ALKS. JPMorgan Chase & Co. raised their price objective on shares of Alkermes from $34.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, September 9th. UBS Group upgraded shares of 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 report on Tuesday, June 17th. Needham & Company LLC set a $43.00 target price on shares of Alkermes in a report on Tuesday, September 9th. HC Wainwright restated a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a report on Tuesday, September 9th. Finally, Royal Bank Of Canada upgraded shares of Alkermes from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $42.00 to $44.00 in a report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.00.

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.

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