Choreo LLC Has $696,000 Stake in Alkermes plc $ALKS

Choreo LLC lifted its stake in Alkermes plc (NASDAQ:ALKS) by 16.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,314 shares of the company’s stock after purchasing an additional 3,502 shares during the quarter. Choreo LLC’s holdings in Alkermes were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ALKS. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Wells Fargo & Company lowered their price target on Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 13th. Piper Sandler restated an “overweight” rating and issued a $45.00 price objective (up previously from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Finally, Needham & Company LLC lifted their target price on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.69.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total value of $273,420.00. Following the transaction, the executive vice president owned 69,740 shares in the company, valued at $2,118,701.20. This trade represents a 11.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 22,000 shares of company stock valued at $674,390. Company insiders own 4.40% of the company’s stock.

Alkermes Stock Performance

ALKS opened at $28.90 on Tuesday. The firm has a market cap of $4.77 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 1.70 and a beta of 0.53. The business has a 50 day moving average price of $30.32 and a 200 day moving average price of $29.40. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.41 by $0.08. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The company had revenue of $394.19 million for the quarter, compared to the consensus estimate of $355.23 million. During the same quarter last year, the company posted $0.73 earnings per share. The company’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. As a group, analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Alkermes Company 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.