Public Sector Pension Investment Board Has $21.32 Million Stock Holdings in Alkermes plc $ALKS

Public Sector Pension Investment Board raised its holdings in Alkermes plc (NASDAQ:ALKS) by 11.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 710,700 shares of the company’s stock after buying an additional 73,787 shares during the period. Public Sector Pension Investment Board owned about 0.43% of Alkermes worth $21,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALKS. State Street Corp raised its holdings in shares of Alkermes by 2.3% in the 2nd quarter. State Street Corp now owns 8,208,256 shares of the company’s stock worth $234,838,000 after acquiring an additional 185,586 shares during the last quarter. Geode Capital Management LLC increased its holdings in Alkermes by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 4,023,552 shares of the company’s stock worth $115,128,000 after purchasing an additional 83,858 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Alkermes by 5.5% in the second quarter. American Century Companies Inc. now owns 3,657,223 shares of the company’s stock worth $104,633,000 after purchasing an additional 191,549 shares during the last quarter. Holocene Advisors LP lifted its holdings in shares of Alkermes by 31.2% in the second quarter. Holocene Advisors LP now owns 2,853,768 shares of the company’s stock valued at $81,646,000 after purchasing an additional 679,166 shares in the last quarter. Finally, Commodore Capital LP lifted its holdings in shares of Alkermes by 25.6% in the second quarter. Commodore Capital LP now owns 2,450,000 shares of the company’s stock valued at $70,094,000 after purchasing an additional 500,000 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $45.00 price target (up from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. Royal Bank Of Canada lifted their price objective on shares of Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Truist Financial increased their target price on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, November 17th. Mizuho raised their price target on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.69.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $33.16 on Friday. The company has a market capitalization of $5.48 billion, a P/E ratio of 16.42 and a beta of 0.49. The company’s 50-day moving average is $30.84 and its 200 day moving average is $29.84. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.45.

Insider Transactions at Alkermes

In related news, Director Shane Cooke sold 61,200 shares of Alkermes 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 sale, the director owned 103,744 shares of the company’s stock, valued at approximately $3,586,430.08. The trade was a 37.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $33.93, for a total value of $305,370.00. Following the completion of the transaction, the executive vice president owned 57,740 shares in the company, valued at approximately $1,959,118.20. The trade was a 13.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 148,148 shares of company stock worth $5,028,378. 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.