Victory Capital Management Inc. Buys 103,749 Shares of Alkermes plc $ALKS

Victory Capital Management Inc. raised its stake in shares of Alkermes plc (NASDAQ:ALKS) by 43.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 344,202 shares of the company’s stock after purchasing an additional 103,749 shares during the quarter. Victory Capital Management Inc.’s holdings in Alkermes were worth $10,326,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in ALKS. American Century Companies Inc. raised its stake in shares of Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after purchasing an additional 740,248 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Alkermes by 11.6% during the third quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock worth $21,321,000 after buying an additional 73,787 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Alkermes in the 2nd quarter valued at $1,142,000. New York State Common Retirement Fund raised its stake in shares of Alkermes by 38.9% in the 3rd quarter. New York State Common Retirement Fund now owns 195,999 shares of the company’s stock valued at $5,880,000 after buying an additional 54,915 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Alkermes by 3,908.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 524,795 shares of the company’s stock worth $15,744,000 after acquiring an additional 511,702 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

NASDAQ ALKS opened at $27.77 on Thursday. The stock’s 50 day simple moving average is $31.60 and its 200 day simple moving average is $30.21. Alkermes plc has a one year low of $25.17 and a one year high of $36.32. The firm has a market cap of $4.63 billion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 6.92 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data 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). The business had revenue of $384.55 million during the quarter, compared to the consensus estimate of $380.44 million. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. As a group, equities analysts expect that Alkermes plc will post 1.31 earnings per share for the current year.

Insider Activity at Alkermes

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $29.29, for a total value of $59,575.86. Following the completion of the transaction, the executive vice president directly owned 237,660 shares of the company’s stock, valued at approximately $6,961,061.40. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Christian Todd Nichols sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $30.00, for a total transaction of $180,000.00. Following the transaction, the senior vice president owned 109,769 shares in the company, valued at $3,293,070. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 157,434 shares of company stock worth $5,305,794 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Alkermes from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Zacks Research lowered Alkermes from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. Truist Financial increased their target price on Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Wolfe Research started coverage on Alkermes in a research note on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price target on the stock. Finally, Royal Bank Of Canada dropped their price objective on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.07.

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.