Aberdeen Group plc Sells 87,452 Shares of Alkermes plc $ALKS

Aberdeen Group plc cut its stake in Alkermes plc (NASDAQ:ALKS) by 35.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,867 shares of the company’s stock after selling 87,452 shares during the quarter. Aberdeen Group plc’s holdings in Alkermes were worth $5,180,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Alkermes by 488.6% in the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock valued at $172,860,000 after purchasing an additional 4,345,523 shares in the last quarter. Nuveen LLC acquired a new position in shares of Alkermes in the 1st quarter valued at $66,689,000. RTW Investments LP increased its position in shares of Alkermes by 13.6% in the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock valued at $217,363,000 after buying an additional 903,802 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Alkermes by 109.5% during the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company’s stock worth $47,736,000 after buying an additional 867,492 shares during the period. Finally, Stempoint Capital LP raised its stake in Alkermes by 752.4% during the 4th quarter. Stempoint Capital LP now owns 416,968 shares of the company’s stock worth $11,992,000 after buying an additional 368,050 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Christian Todd Nichols sold 3,334 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were 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 trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Alkermes Stock Performance

NASDAQ:ALKS opened at $28.97 on Thursday. The stock has a 50-day simple moving average of $28.38 and a 200 day simple moving average of $30.49. Alkermes plc has a 52-week low of $25.56 and a 52-week high of $36.45. The company has a market cap of $4.78 billion, a PE ratio of 13.93, a PEG ratio of 1.65 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. The firm had revenue of $390.66 million during the quarter, compared to the consensus estimate of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, research analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALKS shares. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of Alkermes in a research note on Tuesday, July 29th. UBS Group upgraded Alkermes from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $42.00 in a research report on Tuesday, June 17th. HC Wainwright reissued a “neutral” rating and set a $46.00 target price on shares of Alkermes in a research note on Monday, July 21st. Wall Street Zen lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada increased their price objective 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. One analyst has 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. Based on data from MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and an average target price of $41.08.

Alkermes Profile

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.