Alkermes plc $ALKS Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its position in Alkermes plc (NASDAQ:ALKS) by 51.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,732 shares of the company’s stock after selling 24,730 shares during the period. Maryland State Retirement & Pension System’s holdings in Alkermes were worth $712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. purchased a new stake in Alkermes during the 2nd quarter valued at about $29,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Alkermes in the second quarter valued at approximately $49,000. Osaic Holdings Inc. increased its holdings in Alkermes by 56.4% in the 2nd quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after buying an additional 701 shares during the period. EMC Capital Management acquired a new position in Alkermes in the 2nd quarter worth approximately $69,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Alkermes during the 2nd quarter worth approximately $82,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 5,000 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the transaction, the executive vice president directly owned 61,740 shares in the company, valued at approximately $1,852,200. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 25,748 shares of company stock valued at $765,060. 4.40% of the stock is currently owned by insiders.

Alkermes Stock Up 6.6%

Shares of Alkermes stock opened at $33.85 on Thursday. The firm has a market cap of $5.59 billion, a PE ratio of 16.76 and a beta of 0.48. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45. The business has a 50-day moving average price of $29.17 and a 200 day moving average price of $29.18.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALKS. Zacks Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Alkermes from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Needham & Company LLC upped their target price on Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven 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 $44.69.

Alkermes Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.