KBC Group NV Decreases Stock Position in Alkermes plc $ALKS

KBC Group NV decreased its position in Alkermes plc (NASDAQ:ALKS) by 44.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,001 shares of the company’s stock after selling 3,175 shares during the quarter. KBC Group NV’s holdings in Alkermes were worth $114,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALKS. Vise Technologies Inc. purchased a new stake in Alkermes during the 2nd quarter worth approximately $244,000. Profund Advisors LLC boosted its stake in shares of Alkermes by 7.1% during the 2nd quarter. Profund Advisors LLC now owns 39,869 shares of the company’s stock valued at $1,141,000 after buying an additional 2,641 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Alkermes by 57.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,339 shares of the company’s stock worth $2,155,000 after buying an additional 27,601 shares in the last quarter. Aviva PLC increased its stake in shares of Alkermes by 11.9% in the second quarter. Aviva PLC now owns 19,494 shares of the company’s stock worth $558,000 after buying an additional 2,069 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Alkermes by 33.7% in the second quarter. Los Angeles Capital Management LLC now owns 53,200 shares of the company’s stock worth $1,522,000 after buying an additional 13,410 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Activity at Alkermes

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 approximately $2,118,701.20. The trade was a 11.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Alkermes Stock Up 1.5%

ALKS stock opened at $28.61 on Friday. The stock has a market cap of $4.72 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The firm’s 50-day simple moving average is $30.14 and its 200 day simple moving average is $29.48. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.45.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.41 by $0.08. The firm had revenue of $394.19 million during the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. Alkermes’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Equities analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALKS has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft reduced their target price on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Finally, Royal Bank Of Canada raised their price objective on Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.69.

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.