Strs Ohio Buys New Holdings in Alkermes plc $ALKS

Key Points

• Strs Ohio has purchased 42,500 shares of Alkermes plc, valued at approximately $1,403,000, marking a significant investment in the company during the first quarter.
• Analysts have issued various price targets for Alkermes, with a consensus average target of $41.85, following a positive earnings report that beat expectations by $0.10.
• Alkermes' stock has shown a 1.8% increase, currently trading around $27.87, with a market capitalization of $4.60 billion.

Strs Ohio purchased a new position in Alkermes plc (NASDAQ:ALKS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 42,500 shares of the company's stock, valued at approximately $1,403,000.

Several other large investors also recently bought and sold shares of ALKS. Baird Financial Group Inc. purchased a new position in Alkermes during the first quarter worth $587,000. Intech Investment Management LLC raised its holdings in shares of Alkermes by 25.6% in the first quarter. Intech Investment Management LLC now owns 85,564 shares of the company's stock valued at $2,825,000 after acquiring an additional 17,413 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of Alkermes in the first quarter valued at about $348,000. Victory Capital Management Inc. raised its holdings in shares of Alkermes by 30.9% in the first quarter. Victory Capital Management Inc. now owns 120,997 shares of the company's stock valued at $3,995,000 after acquiring an additional 28,596 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Alkermes by 31.9% in the first quarter. GAMMA Investing LLC now owns 5,396 shares of the company's stock valued at $178,000 after acquiring an additional 1,305 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Down 2.7%

Shares of ALKS traded down $0.76 during mid-day trading on Friday, hitting $27.79. 3,309,695 shares of the company traded hands, compared to its average volume of 2,107,513. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.45. The company has a market capitalization of $4.59 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.53. The business has a 50 day moving average of $28.00 and a 200 day moving average of $29.59.

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, beating the consensus estimate 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 quarter in the prior year, the company posted $1.16 earnings per share. The company's revenue for the quarter 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, research analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Ratings Changes

ALKS has been the subject of several recent research reports. Needham & Company LLC set a $43.00 price objective on Alkermes in a report on Tuesday, September 9th. HC Wainwright reiterated a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a report on Tuesday, September 9th. Wells Fargo & Company upgraded shares of Alkermes to a "strong-buy" rating in a report on Wednesday, September 3rd. Royal Bank Of Canada boosted their target price on shares of Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alkermes from $34.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $41.85.

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.