Edgestream Partners L.P. Has $2.11 Million Stock Position in Alkermes plc $ALKS

Edgestream Partners L.P. cut its position in Alkermes plc (NASDAQ:ALKS) by 33.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,898 shares of the company’s stock after selling 36,346 shares during the quarter. Edgestream Partners L.P.’s holdings in Alkermes were worth $2,114,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. bought a new stake in Alkermes during the first quarter valued at about $246,000. Natixis Advisors LLC lifted its position in shares of Alkermes by 14.3% during the 1st quarter. Natixis Advisors LLC now owns 57,067 shares of the company’s stock worth $1,884,000 after purchasing an additional 7,145 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Alkermes during the 1st quarter valued at approximately $410,000. PNC Financial Services Group Inc. grew its holdings in Alkermes by 3.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company’s stock valued at $408,000 after buying an additional 451 shares during the last quarter. Finally, New Age Alpha Advisors LLC increased its position in Alkermes by 130.8% in the 1st quarter. New Age Alpha Advisors LLC now owns 13,702 shares of the company’s stock worth $452,000 after buying an additional 7,765 shares during the period. Institutional investors own 95.21% of the company’s stock.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $30.38, for a total transaction of $273,420.00. Following the completion of the transaction, the executive vice president directly owned 69,740 shares in the company, valued at $2,118,701.20. This represents a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 22,000 shares of company stock worth $674,390 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALKS. Zacks Research cut Alkermes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. Wall Street Zen downgraded shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Royal Bank Of Canada upped their price objective on shares of Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group set a $56.00 target price on Alkermes and gave the stock a “buy” rating in a research 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.69.

Alkermes Stock Down 0.8%

NASDAQ ALKS opened at $29.30 on Friday. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45. The stock has a market cap of $4.84 billion, a P/E ratio of 14.51, a PEG ratio of 1.42 and a beta of 0.49. The company’s 50-day simple moving average is $30.42 and its 200 day simple moving average is $29.38.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data 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 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 period in the previous year, the business earned $0.73 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.

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.