Vident Advisory LLC Has $1.88 Million Stake in Alkermes plc $ALKS

Key Points

• Vident Advisory LLC has reduced its holdings in Alkermes plc by 14.1%, now owning 56,817 shares valued at $1,876,000.
• Alkermes recently reported earnings per share (EPS) of $0.52, surpassing analyst expectations of $0.42, while revenue reached $390.66 million, exceeding projected $343.20 million.
• Multiple research firms have upgraded Alkermes, with UBS Group raising its rating from "neutral" to "buy" and increasing the price target from $33.00 to $42.00.

Vident Advisory LLC decreased its position in shares of Alkermes plc (NASDAQ:ALKS - Free Report) by 14.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,817 shares of the company's stock after selling 9,314 shares during the quarter. Vident Advisory LLC's holdings in Alkermes were worth $1,876,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ALKS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alkermes by 0.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company's stock worth $2,877,000 after purchasing an additional 311 shares during the last quarter. Quantbot Technologies LP raised its position in Alkermes by 54.5% during the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company's stock worth $36,000 after purchasing an additional 385 shares during the last quarter. Hohimer Wealth Management LLC raised its position in Alkermes by 3.8% during the 1st quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company's stock worth $408,000 after purchasing an additional 450 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Alkermes by 3.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company's stock worth $408,000 after purchasing an additional 451 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in 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 purchasing an additional 521 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 3,334 shares of the business's stock in a transaction dated 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 sale, the senior vice president directly owned 86,208 shares of the company's stock, valued at $2,680,206.72. The trade was a 3.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is owned by insiders.

Analyst Ratings Changes

ALKS has been the subject of several analyst reports. UBS Group raised Alkermes from a "neutral" rating to a "buy" rating and raised their target price for the stock from $33.00 to $42.00 in a research report on Tuesday, June 17th. Royal Bank Of Canada lifted their price objective on Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. 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. Wells Fargo & Company raised Alkermes to a "strong-buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group assumed coverage on Alkermes in a research report on Tuesday, July 15th. They issued a "buy" rating and a $43.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.31.

Alkermes Trading Up 3.5%

Alkermes stock traded up $1.02 during midday trading on Friday, reaching $29.94. The stock had a trading volume of 2,501,695 shares, compared to its average volume of 1,753,548. Alkermes plc has a 12 month low of $25.56 and a 12 month high of $36.45. The company has a market capitalization of $4.94 billion, a P/E ratio of 14.39, a PEG ratio of 1.73 and a beta of 0.53. The company has a fifty day moving average price of $28.33 and a two-hundred day moving average price of $30.22.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results 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 return on equity of 24.86% and a net margin of 23.15%.The business had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. During the same period in the previous year, the company 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 predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

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.