VIRGINIA RETIREMENT SYSTEMS ET Al Invests $27.04 Million in Alkermes plc $ALKS

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Alkermes plc (NASDAQ:ALKS) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 901,333 shares of the company’s stock, valued at approximately $27,040,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.55% of Alkermes as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Diversified Trust Co grew its position in shares of Alkermes by 0.8% in the 2nd quarter. Diversified Trust Co now owns 44,232 shares of the company’s stock valued at $1,265,000 after buying an additional 372 shares during the last quarter. Tidal Investments LLC increased its position in Alkermes by 1.1% during the 2nd quarter. Tidal Investments LLC now owns 35,130 shares of the company’s stock valued at $1,005,000 after purchasing an additional 395 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Alkermes by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 77,000 shares of the company’s stock worth $2,203,000 after purchasing an additional 400 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Alkermes by 1.5% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 33,120 shares of the company’s stock valued at $948,000 after purchasing an additional 502 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Alkermes by 1.1% during the second quarter. Amalgamated Bank now owns 46,848 shares of the company’s stock worth $1,340,000 after buying an additional 528 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Stock Performance

Shares of Alkermes stock opened at $27.81 on Wednesday. The stock has a market capitalization of $4.59 billion, a PE ratio of 13.77 and a beta of 0.49. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.45. The stock has a 50 day moving average price of $29.56 and a two-hundred day moving average price of $29.08.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $355.23 million. During the same period last year, the business earned $0.73 EPS. Alkermes’s quarterly revenue was up 4.3% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Research analysts forecast that Alkermes plc will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Zacks Research lowered shares of Alkermes from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price (up from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada boosted their price target on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.69.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Monday, November 3rd. The shares were 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 trade represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 25,748 shares of company stock worth $786,830 in the last ninety days. 4.40% of the stock is owned by company insiders.

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.