7,439 Shares in Alkermes plc $ALKS Bought by Pzena Investment Management LLC

Pzena Investment Management LLC purchased a new position in Alkermes plc (NASDAQ:ALKS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,439 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in Alkermes in the 1st quarter worth $29,000. Armstrong Advisory Group Inc. purchased a new stake in Alkermes in the 2nd quarter worth $29,000. Brooklyn Investment Group increased its holdings in Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after acquiring an additional 964 shares in the last quarter. Quantbot Technologies LP increased its holdings in Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after acquiring an additional 385 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Alkermes by 54.4% in the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock worth $49,000 after acquiring an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 3.1%

Shares of ALKS opened at $32.17 on Tuesday. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.45. The firm has a 50-day moving average price of $28.76 and a 200 day moving average price of $29.12. The firm has a market capitalization of $5.31 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.69 and a beta of 0.54.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The firm had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Alkermes’s quarterly revenue was down 2.1% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities research analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALKS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Alkermes in a research report on Saturday, September 27th. Royal Bank Of Canada upgraded shares of Alkermes from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $42.00 to $44.00 in a research report on Friday, September 26th. Wells Fargo & Company upgraded shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, September 3rd. Needham & Company LLC set a $43.00 target price on shares of Alkermes in a research report on Tuesday, September 9th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research report on Tuesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.00.

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.