Voya Investment Management LLC Purchases 30,065 Shares of Alkermes plc $ALKS

Voya Investment Management LLC increased its position in shares of Alkermes plc (NASDAQ:ALKS) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 533,650 shares of the company’s stock after buying an additional 30,065 shares during the period. Voya Investment Management LLC owned about 0.32% of Alkermes worth $16,010,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

ALKS has been the subject of a number of analyst reports. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Jefferies Financial Group set a $56.00 price target on shares of Alkermes and gave the company a “buy” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alkermes in a research note on Tuesday, December 16th. Finally, Piper Sandler reissued an “overweight” rating and set a $45.00 target price (up previously from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 3,748 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $30.00, for a total transaction of $112,440.00. Following the sale, the executive vice president owned 65,740 shares in the company, valued at approximately $1,972,200. The trade was a 5.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 25,748 shares of company stock worth $786,830. Insiders own 4.40% of the company’s stock.

Alkermes Stock Up 0.6%

Shares of Alkermes stock opened at $28.63 on Tuesday. The company has a 50 day moving average price of $29.91 and a 200 day moving average price of $29.19. The firm has a market capitalization of $4.73 billion, a P/E ratio of 14.17 and a beta of 0.49. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its quarterly 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. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The business had revenue of $394.19 million for the quarter, compared to analyst estimates of $355.23 million. During the same quarter in the prior year, the business posted $0.73 EPS. Alkermes’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. As a group, research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

About Alkermes

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.