Alkermes plc $ALKS Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC decreased its position in shares of Alkermes plc (NASDAQ:ALKS) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,342 shares of the company’s stock after selling 36,543 shares during the period. Rice Hall James & Associates LLC owned about 0.23% of Alkermes worth $11,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Intech Investment Management LLC lifted its holdings in Alkermes by 25.6% during the 1st quarter. Intech Investment Management LLC now owns 85,564 shares of the company’s stock worth $2,825,000 after buying an additional 17,413 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Alkermes in the first quarter valued at $587,000. Capital Fund Management S.A. acquired a new position in Alkermes during the 2nd quarter worth $1,142,000. Acadian Asset Management LLC grew its stake in Alkermes by 2,422.0% during the 1st quarter. Acadian Asset Management LLC now owns 881,827 shares of the company’s stock worth $29,100,000 after purchasing an additional 846,861 shares in the last quarter. Finally, Atle Fund Management AB increased its holdings in Alkermes by 5.8% during the 2nd quarter. Atle Fund Management AB now owns 227,224 shares of the company’s stock worth $6,501,000 after purchasing an additional 12,446 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Alkermes Stock Performance

ALKS opened at $28.49 on Friday. Alkermes plc has a one year low of $25.17 and a one year high of $36.45. The stock has a market capitalization of $4.70 billion, a P/E ratio of 14.10 and a beta of 0.49. The business’s 50-day simple moving average is $29.69 and its 200-day simple moving average is $29.14.

Alkermes (NASDAQ:ALKS) last announced 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 firm had revenue of $394.19 million during the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm 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 fiscal year.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s 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 completion of the sale, the executive vice president owned 69,740 shares in the company, valued at $2,118,701.20. This represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 25,748 shares of company stock valued at $786,830. Insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Truist Financial boosted their price target on shares of Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Wall Street Zen lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Zacks Research downgraded shares of Alkermes from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Jefferies Financial Group set a $56.00 price target on Alkermes and gave the stock a “buy” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Alkermes Company 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.