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

S&CO Inc. acquired a new stake in shares of Alkermes plc (NASDAQ:ALKS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 244,760 shares of the company’s stock, valued at approximately $12,824,000. S&CO Inc. owned about 0.15% of Alkermes as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baker BROS. Advisors LP grew its holdings in shares of Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after purchasing an additional 1,920,916 shares during the last quarter. State Street Corp raised its position in shares of Alkermes by 10.9% during the 4th quarter. State Street Corp now owns 9,472,858 shares of the company’s stock worth $265,051,000 after purchasing an additional 932,507 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Alkermes by 6.0% in the 4th quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock worth $186,571,000 after purchasing an additional 375,500 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after purchasing an additional 1,256,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Alkermes by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock valued at $159,850,000 after purchasing an additional 109,595 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $63.00 target price (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Wells Fargo & Company boosted their price target on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Needham & Company LLC upped their price target on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Finally, Piper Sandler restated an “overweight” rating and set a $65.00 price target (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $54.56.

Alkermes Stock Performance

Shares of ALKS stock opened at $49.06 on Friday. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.67. The firm has a market capitalization of $8.23 billion, a price-to-earnings ratio of 129.11 and a beta of 0.34. The business has a 50 day simple moving average of $49.98 and a 200 day simple moving average of $39.41. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85.

Insiders Place Their Bets

In other news, Director Christopher I. Wright sold 2,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the transaction, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 on Monday, August 3rd. The shares were sold at an average price of $50.35, for a total value of $2,239,165.20. Following the transaction, the director directly owned 15,395 shares in the company, valued at $775,138.25. This trade represents a 74.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 79,574 shares of company stock worth $3,901,478 over the last 90 days. Insiders own 4.59% 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.