Acadian Asset Management LLC Has $29.10 Million Position in Alkermes plc $ALKS

Acadian Asset Management LLC increased its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 2,422.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 881,827 shares of the company’s stock after purchasing an additional 846,861 shares during the period. Acadian Asset Management LLC owned approximately 0.53% of Alkermes worth $29,100,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Intech Investment Management LLC lifted its holdings in shares of Alkermes by 25.6% during the 1st quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock valued at $2,825,000 after purchasing an additional 17,413 shares in the last quarter. Bayforest Capital Ltd lifted its holdings in shares of Alkermes by 105.2% during the 1st quarter. Bayforest Capital Ltd now owns 9,270 shares of the company’s stock valued at $306,000 after purchasing an additional 4,752 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alkermes by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after purchasing an additional 20,091 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Alkermes during the 1st quarter valued at about $1,239,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes during the 1st quarter valued at about $213,000. Institutional investors own 95.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALKS shares. UBS Group upgraded Alkermes from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $42.00 in a report on Tuesday, June 17th. JPMorgan Chase & Co. lifted their price objective on Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday. Wells Fargo & Company upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, September 3rd. HC Wainwright reiterated a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a report on Tuesday. Finally, Royal Bank Of Canada boosted their target price on Alkermes from $40.00 to $42.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Alkermes Stock Performance

NASDAQ ALKS opened at $26.93 on Thursday. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 1.60 and a beta of 0.53. The stock’s 50 day moving average price is $28.28 and its two-hundred day moving average price is $30.01. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.45.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. The firm had revenue of $390.66 million for the quarter, compared to analysts’ expectations of $343.20 million. Alkermes had a return on equity of 24.86% and a net margin of 23.15%.The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 EPS. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. On average, equities research analysts forecast 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.