Alkermes plc $ALKS Shares Bought by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. dramatically increased its stake in Alkermes plc by 2,986.2% during the first quarter, acquiring an additional 147,906 shares for a total position worth $5,071,000.
• Several institutional investors also adjusted their positions in Alkermes, with 95.21% of the stock now owned by such investors.
• Alkermes reported an EPS of $0.52 for the last quarter, exceeding analysts' expectations and contributed to a revenue of $390.66 million, which was up from the consensus estimate of $343.20 million.

Russell Investments Group Ltd. raised its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 2,986.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,859 shares of the company's stock after purchasing an additional 147,906 shares during the period. Russell Investments Group Ltd. owned 0.09% of Alkermes worth $5,071,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ALKS. USA Financial Formulas acquired a new position in Alkermes during the first quarter worth approximately $49,000. Fifth Third Bancorp increased its position in Alkermes by 54.4% during the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company's stock worth $49,000 after purchasing an additional 521 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in Alkermes during the fourth quarter worth approximately $98,000. GAMMA Investing LLC increased its position in Alkermes by 31.9% during the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock worth $178,000 after purchasing an additional 1,305 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Alkermes in the first quarter worth $204,000. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Trading Up 0.9%

NASDAQ ALKS traded up $0.27 during trading hours on Wednesday, reaching $29.25. 1,235,570 shares of the company traded hands, compared to its average volume of 1,557,096. Alkermes plc has a 12 month low of $25.56 and a 12 month high of $36.45. The stock has a market capitalization of $4.83 billion, a PE ratio of 14.06, a PEG ratio of 1.67 and a beta of 0.47. The company has a 50 day moving average of $28.32 and a two-hundred day moving average of $30.42.

Alkermes (NASDAQ:ALKS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating 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 firm had revenue of $390.66 million for the quarter, compared to the consensus estimate of $343.20 million. During the same period in the prior year, the firm posted $1.16 EPS. The firm's 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. On average, equities research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Activity

In other news, SVP Christian Todd Nichols sold 3,334 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $31.09, for a total value of $103,654.06. Following the transaction, the senior vice president directly owned 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALKS. HC Wainwright reissued a "neutral" rating and issued a $46.00 price objective on shares of Alkermes in a research report on Monday, July 21st. Needham & Company LLC reissued a "buy" rating and issued a $45.00 price objective on shares of Alkermes in a research report on Tuesday, July 29th. UBS Group raised shares of Alkermes from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Royal Bank Of Canada raised their price target 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. Finally, Wall Street Zen lowered shares of Alkermes from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Alkermes currently has a consensus rating of "Moderate Buy" and an average price target of $41.08.

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.