Loomis Sayles & Co. L P Sells 330,389 Shares of Alkermes plc $ALKS

Loomis Sayles & Co. L P decreased its position in shares of Alkermes plc (NASDAQ:ALKS) by 13.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,109,894 shares of the company’s stock after selling 330,389 shares during the quarter. Loomis Sayles & Co. L P owned approximately 1.28% of Alkermes worth $60,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Tree Management LP bought a new position in Alkermes in the first quarter valued at about $29,000. Armstrong Advisory Group Inc. bought a new stake in shares of Alkermes during the second quarter worth about $29,000. Brooklyn Investment Group increased its stake in shares of Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after buying an additional 964 shares during the period. Quantbot Technologies LP raised its holdings in 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 buying an additional 385 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Alkermes during the 2nd quarter worth approximately $49,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

Alkermes stock opened at $29.08 on Friday. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.70 and a beta of 0.53. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45. The stock’s 50 day moving average price is $30.29 and its two-hundred day moving average price is $29.43.

Alkermes (NASDAQ:ALKS) last released its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 net margin of 22.27% and a return on equity of 21.81%. Alkermes’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, equities research analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $30.38, for a total value of $273,420.00. Following the completion of the sale, the executive vice president directly 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 filing with the SEC, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALKS shares. Truist Financial raised their price target on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Deutsche Bank Aktiengesellschaft decreased their price target on Alkermes from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Mizuho lifted their price objective on Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Piper Sandler restated an “overweight” rating and set a $45.00 price target (up previously from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Finally, HC Wainwright restated a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.69.

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.