TD Asset Management Inc Sells 91,772 Shares of Alkermes plc $ALKS

TD Asset Management Inc cut its holdings in Alkermes plc (NASDAQ:ALKS) by 42.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,670 shares of the company’s stock after selling 91,772 shares during the period. TD Asset Management Inc owned about 0.08% of Alkermes worth $3,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Royal Bank of Canada boosted its position in Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after purchasing an additional 148,696 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Alkermes in the 1st quarter worth about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alkermes by 4.3% during the first 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 buying an additional 20,091 shares during the period. Envestnet Asset Management Inc. increased its holdings in Alkermes by 1.3% during the second quarter. Envestnet Asset Management Inc. now owns 43,658 shares of the company’s stock worth $1,249,000 after buying an additional 551 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Alkermes by 2.0% during the second quarter. Teacher Retirement System of Texas now owns 42,215 shares of the company’s stock worth $1,208,000 after buying an additional 816 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALKS. HC Wainwright reiterated a “neutral” rating and issued a $43.00 target price on shares of Alkermes in a research note on Thursday, February 26th. Royal Bank Of Canada dropped their price objective on Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Zacks Research downgraded Alkermes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research note on Monday, December 29th. Finally, Wolfe Research assumed coverage on Alkermes in a research note on Monday, February 23rd. They set an “outperform” rating and a $45.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.07.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $33.93, for a total value of $305,370.00. Following the sale, the executive vice president directly owned 57,740 shares in the company, valued at $1,959,118.20. This represents a 13.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shane Cooke sold 61,200 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the transaction, the director owned 103,744 shares of the company’s stock, valued at $3,586,430.08. This trade represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 140,400 shares of company stock worth $4,798,738. Insiders own 4.40% of the company’s stock.

Alkermes Price Performance

NASDAQ:ALKS opened at $29.20 on Wednesday. The company has a market cap of $4.87 billion, a P/E ratio of 20.42, a P/E/G ratio of 7.54 and a beta of 0.53. The stock’s fifty day moving average price is $31.58 and its two-hundred day moving average price is $30.25. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.32.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $380.44 million. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. Alkermes’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. On average, analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

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.