TD Asset Management Inc Sells 91,772 Shares of Alkermes plc $ALKS

TD Asset Management Inc lessened its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 42.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,670 shares of the company’s stock after selling 91,772 shares during the quarter. TD Asset Management Inc’s holdings in Alkermes were worth $3,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ALKS. Royal Bank of Canada increased its position in shares of Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after purchasing an additional 148,696 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Alkermes in the 1st quarter worth approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alkermes by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock worth $15,927,000 after buying an additional 20,091 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Alkermes by 1.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 43,658 shares of the company’s stock valued at $1,249,000 after buying an additional 551 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Alkermes by 2.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 42,215 shares of the company’s stock worth $1,208,000 after acquiring an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of Alkermes stock opened at $29.20 on Wednesday. Alkermes plc has a one year low of $25.17 and a one year high of $36.32. The business’s 50 day simple moving average is $31.58 and its two-hundred day simple moving average is $30.25. The stock has a market capitalization of $4.87 billion, a P/E ratio of 20.42, a price-to-earnings-growth ratio of 7.54 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The firm had revenue of $384.55 million during the quarter, compared to the consensus estimate of $380.44 million. During the same quarter in the prior year, the business posted $1.05 EPS. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. Sell-side analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Zacks Research cut Alkermes from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Wall Street Zen lowered Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research report on Monday, December 29th. HC Wainwright reiterated a “neutral” rating and set a $43.00 price target on shares of Alkermes in a research report on Thursday, February 26th. Finally, Wells Fargo & Company lifted their price target on shares of Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.07.

Insider Transactions at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $33.93, for a total transaction of $305,370.00. Following the transaction, the executive vice president owned 57,740 shares in the company, valued at $1,959,118.20. The trade was a 13.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Shane Cooke sold 61,200 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total value of $2,115,684.00. Following the transaction, the director directly owned 103,744 shares of the company’s stock, valued at $3,586,430.08. The trade was a 37.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 140,400 shares of company stock worth $4,798,738 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

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.