Alkermes plc $ALKS Stock Position Reduced by Vident Advisory LLC

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 trimmed its holdings in Alkermes plc (NASDAQ:ALKS - Free Report) by 14.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,817 shares of the company's stock after selling 9,314 shares during the period. 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 and other institutional investors also recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its position in shares of Alkermes by 125.9% in the fourth quarter. Hsbc Holdings PLC now owns 29,663 shares of the company's stock worth $856,000 after acquiring an additional 16,534 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in Alkermes during the fourth quarter worth approximately $492,000. The Manufacturers Life Insurance Company raised its stake in Alkermes by 0.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 196,831 shares of the company's stock worth $5,661,000 after purchasing an additional 1,088 shares during the period. Northern Trust Corp boosted its holdings in shares of Alkermes by 9.6% in the 4th quarter. Northern Trust Corp now owns 1,912,132 shares of the company's stock valued at $54,993,000 after purchasing an additional 167,452 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Alkermes by 45.8% during the 4th quarter. BNP Paribas Financial Markets now owns 217,980 shares of the company's stock valued at $6,269,000 after buying an additional 68,487 shares during the period. Hedge funds and other institutional investors own 95.21% of the company's stock.

Wall Street Analyst Weigh In

ALKS has been the topic of several research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 target price on shares of Alkermes in a research report on Tuesday, July 29th. Wells Fargo & Company upgraded 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. Royal Bank Of Canada increased their target price on shares of Alkermes from $40.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group began coverage on shares of Alkermes in a report on Tuesday, July 15th. They issued 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 given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.31.

Alkermes Price Performance

NASDAQ ALKS traded up $1.02 on Friday, reaching $29.94. The company had a trading volume of 2,501,695 shares, compared to its average volume of 1,412,814. Alkermes plc has a 1 year low of $25.56 and a 1 year high of $36.45. The firm has a 50-day moving average of $28.35 and a 200-day moving average of $30.10. The firm has a market capitalization of $4.94 billion, a PE ratio of 14.39, a P/E/G ratio of 1.72 and a beta of 0.53.

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 analysts' consensus estimates of $0.42 by $0.10. The company had revenue of $390.66 million for the quarter, compared to analyst estimates of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The business's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. As a group, sell-side analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insider Activity at Alkermes

In related news, SVP Christian Todd Nichols sold 3,334 shares of the 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 transaction, the senior vice president owned 86,208 shares of the company's stock, valued at approximately $2,680,206.72. This represents a 3.72% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.