S&CO Inc. Takes Position in Alkermes plc $ALKS

S&CO Inc. acquired a new stake in Alkermes plc (NASDAQ:ALKS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 244,760 shares of the company’s stock, valued at approximately $12,824,000.

A number of other hedge funds have also made changes to their positions in the stock. Cullen Frost Bankers Inc. bought a new stake in Alkermes during the fourth quarter worth approximately $28,000. Johnson Financial Group Inc. bought a new position in Alkermes during the 3rd quarter valued at $31,000. UMB Bank n.a. increased its position in shares of Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after purchasing an additional 446 shares during the period. Salomon & Ludwin LLC increased its position in shares of Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Alkermes by 1,041.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock valued at $37,000 after purchasing an additional 1,208 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $49.06 on Friday. The company’s fifty day moving average is $49.98 and its two-hundred day moving average is $39.41. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.67. The company has a market cap of $8.23 billion, a P/E ratio of 129.11 and a beta of 0.34.

Analyst Ratings Changes

Several analysts have recently weighed in on ALKS shares. Robert W. Baird upped their price objective on Alkermes from $48.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. TD Cowen lifted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Bank of America reiterated an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. Mizuho boosted their price target on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $65.00 price target (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.56.

Insiders Place Their Bets

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total value of $463,590.00. Following the completion of the sale, the executive vice president directly owned 73,389 shares of the company’s stock, valued at approximately $3,780,267.39. This represents a 10.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Lynn Md Snyderman sold 44,472 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $50.35, for a total value of $2,239,165.20. Following the sale, the director owned 15,395 shares of the company’s stock, valued at $775,138.25. The trade was a 74.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 79,574 shares of company stock worth $3,901,478. 4.59% of the stock is owned by corporate insiders.

About Alkermes

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.