Rice Hall James & Associates LLC Trims Stock Position in Alkermes plc $ALKS

Rice Hall James & Associates LLC reduced its stake in Alkermes plc (NASDAQ:ALKS) by 8.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 385,342 shares of the company’s stock after selling 36,543 shares during the period. Rice Hall James & Associates LLC’s holdings in Alkermes were worth $11,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. State Street Corp grew its position in Alkermes by 2.3% in the 2nd quarter. State Street Corp now owns 8,208,256 shares of the company’s stock valued at $234,838,000 after buying an additional 185,586 shares during the last quarter. Baker BROS. Advisors LP lifted its stake in shares of Alkermes by 7.2% in the 1st quarter. Baker BROS. Advisors LP now owns 4,483,285 shares of the company’s stock worth $148,038,000 after acquiring an additional 301,534 shares during the period. Geode Capital Management LLC lifted its stake in shares of Alkermes by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,023,552 shares of the company’s stock worth $115,128,000 after acquiring an additional 83,858 shares during the period. American Century Companies Inc. increased its stake in shares of Alkermes by 5.5% during the second quarter. American Century Companies Inc. now owns 3,657,223 shares of the company’s stock worth $104,633,000 after acquiring an additional 191,549 shares during the period. Finally, Holocene Advisors LP raised its holdings in Alkermes by 31.2% during the second quarter. Holocene Advisors LP now owns 2,853,768 shares of the company’s stock worth $81,646,000 after purchasing an additional 679,166 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 3,748 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $30.00, for a total value of $112,440.00. Following the transaction, the executive vice president directly owned 65,740 shares in the company, valued at $1,972,200. This trade represents a 5.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 25,748 shares of company stock worth $786,830 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS stock opened at $28.49 on Friday. Alkermes plc has a one year low of $25.17 and a one year high of $36.45. The company has a 50 day moving average price of $29.69 and a 200 day moving average price of $29.14. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 14.10 and a beta of 0.49.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results 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. The company had revenue of $394.19 million for the quarter, compared to analyst estimates of $355.23 million. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. Alkermes’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. As a group, equities analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ALKS shares. Jefferies Financial Group set a $56.00 price objective on Alkermes and gave the stock a “buy” rating in a report on Tuesday, October 28th. Royal Bank Of Canada raised their price objective on shares of Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Zacks Research downgraded shares of Alkermes from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 20th. Needham & Company LLC raised their price target on shares of Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Truist Financial boosted their price objective on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and a consensus target price of $44.69.

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.