Mackenzie Financial Corp Acquires 53,323 Shares of Alkermes plc $ALKS

Mackenzie Financial Corp raised its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 22.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 290,327 shares of the company’s stock after acquiring an additional 53,323 shares during the period. Mackenzie Financial Corp’s holdings in Alkermes were worth $8,306,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in shares of Alkermes in the 1st quarter valued at about $29,000. Armstrong Advisory Group Inc. bought a new position in Alkermes during the 2nd quarter worth approximately $29,000. Brooklyn Investment Group increased its stake in Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after purchasing an additional 964 shares during the period. Quantbot Technologies LP lifted its position in Alkermes by 54.5% in the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after purchasing an additional 385 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Alkermes in the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. 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 cut their price target on shares of Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Needham & Company LLC boosted their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.69.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $29.30, for a total value of $117,200.00. Following the completion of the transaction, the executive vice president owned 65,740 shares in the company, valued at $1,926,182. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 22,000 shares of company stock worth $674,390. Insiders own 4.40% of the company’s stock.

Alkermes Trading Up 0.2%

Shares of Alkermes stock opened at $28.97 on Wednesday. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.45. The company has a market cap of $4.78 billion, a P/E ratio of 14.34, a PEG ratio of 1.39 and a beta of 0.49. The company’s fifty day simple moving average is $30.34 and its two-hundred day simple moving average is $29.38.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating 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 firm had revenue of $394.19 million for the quarter, compared to analyst estimates of $355.23 million. During the same quarter in the previous year, the firm posted $0.73 EPS. 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. Analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

Alkermes 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.