Pacer Advisors Inc. Sells 98,825 Shares of Alkermes plc $ALKS

Pacer Advisors Inc. trimmed its position in Alkermes plc (NASDAQ:ALKS) by 10.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 808,132 shares of the company’s stock after selling 98,825 shares during the quarter. Pacer Advisors Inc. owned 0.49% of Alkermes worth $24,244,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP acquired a new position in shares of Alkermes in the 1st quarter valued at $29,000. Armstrong Advisory Group Inc. bought a new stake in Alkermes in the second quarter valued at about $29,000. Quantbot Technologies LP increased its stake 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 acquiring an additional 385 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Alkermes in the second quarter worth about $49,000. Finally, Osaic Holdings Inc. lifted its stake in Alkermes by 56.4% during the second quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after purchasing an additional 701 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total transaction of $273,420.00. Following the transaction, the executive vice president directly owned 69,740 shares in the company, valued at approximately $2,118,701.20. This represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 25,748 shares of company stock valued at $786,830 over the last ninety days. Insiders own 4.40% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS stock opened at $28.49 on Friday. The stock’s fifty day moving average is $29.69 and its 200-day moving average is $29.14. The stock has a market capitalization of $4.70 billion, a PE ratio of 14.10 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 released 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. The business 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 firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 earnings per share. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. As a group, analysts forecast that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALKS. Needham & Company LLC upped their price objective on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Wall Street Zen cut Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Wells Fargo & Company cut their price objective on Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Zacks Research downgraded shares of Alkermes from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada increased their target price on shares of Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.69.

Alkermes 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.