Vise Technologies Inc. Makes New $244,000 Investment in Alkermes plc $ALKS

Vise Technologies Inc. acquired a new stake in shares of Alkermes plc (NASDAQ:ALKS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,523 shares of the company’s stock, valued at approximately $244,000.

Several other institutional investors have also added to or reduced their stakes in the business. Diversified Trust Co grew its holdings in shares of Alkermes by 0.8% during the second quarter. Diversified Trust Co now owns 44,232 shares of the company’s stock valued at $1,265,000 after buying an additional 372 shares during the last quarter. Quantbot Technologies LP grew 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 period. Louisiana State Employees Retirement System raised its position in Alkermes by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock valued at $2,203,000 after acquiring an additional 400 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Alkermes by 3.8% in 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 in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Alkermes by 1.1% during the 2nd quarter. Amalgamated Bank now owns 46,848 shares of the company’s stock worth $1,340,000 after purchasing an additional 528 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $30.38, for a total transaction of $273,420.00. Following the sale, the executive vice president directly owned 69,740 shares in the company, valued at $2,118,701.20. This represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Mizuho raised their price target on shares of Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Needham & Company LLC upped their target price on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.69.

Alkermes Trading Up 1.0%

Shares of NASDAQ:ALKS opened at $29.33 on Tuesday. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.70 and a beta of 0.53. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.45. The business has a 50-day moving average price of $30.03 and a 200 day moving average price of $29.53.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.08. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The company had revenue of $394.19 million during the quarter, compared to analyst estimates of $355.23 million. During the same quarter last year, the firm posted $0.73 earnings per share. Alkermes’s revenue was up 4.3% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. As a group, 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.