Federated Hermes Inc. Sells 19,313 Shares of Alkermes plc $ALKS

Federated Hermes Inc. reduced its stake in shares of Alkermes plc (NASDAQ:ALKS) by 84.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,501 shares of the company’s stock after selling 19,313 shares during the period. Federated Hermes Inc.’s holdings in Alkermes were worth $105,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Alkermes during the second quarter worth about $53,326,000. BNP Paribas Financial Markets boosted its holdings in Alkermes by 787.2% in the second quarter. BNP Paribas Financial Markets now owns 1,135,478 shares of the company’s stock valued at $32,486,000 after acquiring an additional 1,007,488 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Alkermes during the 3rd quarter valued at approximately $27,040,000. Holocene Advisors LP raised its holdings in Alkermes by 31.2% during the 2nd quarter. Holocene Advisors LP now owns 2,853,768 shares of the company’s stock worth $81,646,000 after purchasing an additional 679,166 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Alkermes by 43.0% in the 2nd quarter. Bank of America Corp DE now owns 2,155,087 shares of the company’s stock worth $61,657,000 after purchasing an additional 647,905 shares during the period. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Alkermes in a research report on Monday, December 29th. Needham & Company LLC boosted their price objective on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. HC Wainwright restated a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $45.00 target price (up from $38.00) on shares of Alkermes in a report on Thursday, October 23rd. 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, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $44.69.

Insider Activity at Alkermes

In related news, Director Shane Cooke sold 61,200 shares of the stock in a transaction on Monday, February 2nd. The stock was 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 $3,586,430.08. This trade represents a 37.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction 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 of the company’s stock, valued at approximately $1,959,118.20. The trade was a 13.49% decrease in their position. The SEC filing for this sale provides additional information. In 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 Price Performance

Shares of ALKS opened at $34.84 on Tuesday. The stock has a 50-day moving average of $30.47 and a 200-day moving average of $29.67. The company has a market cap of $5.75 billion, a PE ratio of 17.25 and a beta of 0.49. Alkermes plc has a one year low of $25.17 and a one year high of $36.45.

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.