Vestcor Inc Cuts Holdings in Alkermes plc $ALKS

Vestcor Inc cut its holdings in Alkermes plc (NASDAQ:ALKS) by 29.5% during the third quarter, Holdings Channel reports. The institutional investor owned 43,140 shares of the company’s stock after selling 18,052 shares during the quarter. Vestcor Inc’s holdings in Alkermes were worth $1,294,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKS. American Century Companies Inc. lifted its holdings in 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 acquiring an additional 740,248 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Alkermes by 11.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock worth $21,321,000 after purchasing an additional 73,787 shares in the last quarter. Capital Fund Management S.A. acquired a new position in shares of Alkermes during the 2nd quarter worth $1,142,000. New York State Common Retirement Fund increased its holdings 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 purchasing an additional 54,915 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Alkermes by 3,908.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 524,795 shares of the company’s stock valued at $15,744,000 after purchasing an additional 511,702 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Up 0.1%

NASDAQ:ALKS opened at $27.77 on Thursday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.32. The stock has a fifty day simple moving average of $31.60 and a 200-day simple moving average of $30.21. The company has a market capitalization 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 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The business had revenue of $384.55 million during the quarter, compared to analyst estimates of $380.44 million. During the same period in the previous year, the company posted $1.05 earnings per share. Alkermes’s revenue was down 10.6% on a year-over-year basis. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. As a group, equities analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several recent analyst reports. Bank of America raised their price objective 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. HC Wainwright restated a “neutral” rating and set a $43.00 target price on shares of Alkermes in a research report on Thursday, February 26th. Wolfe Research assumed coverage on shares of Alkermes in a report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Alkermes from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Finally, Zacks Research lowered Alkermes from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.07.

Insider Buying and Selling at Alkermes

In other news, EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $29.29, for a total value of $59,575.86. Following the sale, the executive vice president directly owned 237,660 shares in the company, valued at $6,961,061.40. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $29.72, for a total transaction of $267,480.00. Following the transaction, the executive vice president directly owned 89,389 shares of the company’s stock, valued at approximately $2,656,641.08. This trade represents a 9.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 157,434 shares of company stock worth $5,305,794 over the last ninety days. 4.40% of the stock is currently owned by company insiders.

Alkermes 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.