S&CO Inc. Purchases 43,000 Shares of Alkermes plc $ALKS

Key Points

• S&CO Inc. increased its stake in Alkermes by 21.3% in the first quarter, buying 43,000 additional shares and bringing its total holdings to 244,760 shares worth about $8.65 million.
• Institutional interest in ALKS remains high, with hedge funds and other investors owning 95.21% of the company’s stock and several firms recently boosting their positions.
• Analysts remain mixed but broadly positive: the consensus rating is “Moderate Buy” with an average target price of $51.80, though some firms have raised targets while others maintain cautious or bearish views.

S&CO Inc. raised its position in Alkermes plc (NASDAQ:ALKS - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 244,760 shares of the company's stock after buying an additional 43,000 shares during the period. S&CO Inc. owned 0.15% of Alkermes worth $8,654,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of ALKS. Royal Bank of Canada grew its holdings in shares of Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company's stock valued at $9,098,000 after acquiring an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Alkermes during the first quarter worth $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alkermes by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company's stock worth $15,927,000 after purchasing an additional 20,091 shares during the last quarter. Cetera Investment Advisers boosted its position in Alkermes by 32.3% in the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company's stock worth $398,000 after purchasing an additional 3,394 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in Alkermes by 539.4% in the 2nd quarter. Quantbot Technologies LP now owns 6,976 shares of the company's stock valued at $200,000 after purchasing an additional 5,885 shares during the period. Institutional investors own 95.21% of the company's stock.

Analyst Ratings Changes

ALKS has been the subject of several research analyst reports. Piper Sandler decreased their target price on Alkermes from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, March 24th. Bank of America reissued an "underperform" rating on shares of Alkermes in a report on Monday, June 29th. HC Wainwright restated a "neutral" rating on shares of Alkermes in a report on Thursday, June 18th. Robert W. Baird raised their price objective on shares of Alkermes from $45.00 to $48.00 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. Finally, Wells Fargo & Company boosted their target price on shares of Alkermes from $44.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.80.

Alkermes Stock Performance

Shares of ALKS opened at $52.72 on Friday. The firm has a market cap of $8.79 billion, a PE ratio of 58.58 and a beta of 0.34. The stock's fifty day moving average price is $45.43 and its two-hundred day moving average price is $36.58. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $55.67.

Insider Buying and Selling

In related news, Director Christopher I. Wright sold 2,000 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the sale, the director directly owned 25,680 shares in the company, valued at approximately $1,158,168. The trade was a 7.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the business's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $54.03, for a total value of $109,897.02. Following the completion of the sale, the executive vice president owned 227,490 shares in the company, valued at $12,291,284.70. This represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 35,102 shares of company stock valued at $1,494,410. 4.59% of the stock is owned by 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.

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