Public Sector Pension Investment Board Raises Holdings in Alkermes plc $ALKS

Public Sector Pension Investment Board increased its position in Alkermes plc (NASDAQ:ALKS) by 11.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 710,700 shares of the company’s stock after acquiring an additional 73,787 shares during the quarter. Public Sector Pension Investment Board’s holdings in Alkermes were worth $21,321,000 as of its most recent SEC filing.

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

Alkermes Stock Performance

Shares of ALKS stock opened at $33.16 on Friday. The company has a market capitalization of $5.48 billion, a PE ratio of 16.42 and a beta of 0.49. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45. The business’s fifty day moving average is $30.84 and its 200 day moving average is $29.84.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALKS shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Jefferies Financial Group set a $56.00 price target on Alkermes and gave the company a “buy” rating in a research report on Tuesday, October 28th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Wednesday, October 22nd. Piper Sandler restated an “overweight” rating and issued a $45.00 target price (up previously from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Finally, Wall Street Zen downgraded Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.69.

Insider Transactions at Alkermes

In related news, 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 in the company, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, February 2nd. The shares were sold at an average price of $33.93, for a total transaction of $305,370.00. Following the completion of the sale, the executive vice president directly owned 57,740 shares in the company, valued at $1,959,118.20. This represents a 13.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 148,148 shares of company stock worth $5,028,378 over the last 90 days. Corporate insiders own 4.40% of the company’s stock.

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.