Alkermes plc $ALKS Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its holdings in Alkermes plc (NASDAQ:ALKS) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,331 shares of the company’s stock after selling 3,646 shares during the period. Neuberger Berman Group LLC owned about 0.12% of Alkermes worth $5,617,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Twin Tree Management LP acquired a new position in Alkermes during the 1st quarter worth approximately $29,000. Armstrong Advisory Group Inc. acquired a new stake in Alkermes during the 2nd quarter valued at $29,000. Brooklyn Investment Group increased its position in shares of Alkermes by 1,071.1% during the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after acquiring an additional 964 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after purchasing an additional 385 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Alkermes during the second quarter worth approximately $49,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALKS shares. Needham & Company LLC boosted their price target on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Zacks Research cut shares of Alkermes from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Wells Fargo & Company reduced their price target on shares of Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Truist Financial boosted their price objective on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $30.38, for a total value of $273,420.00. Following the sale, the executive vice president owned 69,740 shares of the company’s stock, 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 is accessible through this link. Company insiders own 4.40% of the company’s stock.

Alkermes Stock Down 2.2%

Shares of ALKS opened at $29.08 on Friday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45. The firm has a market capitalization of $4.80 billion, a PE ratio of 14.40, a P/E/G ratio of 1.70 and a beta of 0.53. The firm has a 50-day moving average price of $30.29 and a 200 day moving average price of $29.43.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $0.73 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, equities analysts expect that Alkermes plc will post 1.31 EPS for the current 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.