Aberdeen Group plc Sells 32,495 Shares of Alkermes plc $ALKS

Aberdeen Group plc cut its stake in shares of Alkermes plc (NASDAQ:ALKS) by 18.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,224 shares of the company’s stock after selling 32,495 shares during the quarter. Aberdeen Group plc owned approximately 0.09% of Alkermes worth $4,387,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Fund Management S.A. purchased a new position in shares of Alkermes in the second quarter valued at $1,142,000. Public Sector Pension Investment Board lifted its holdings in Alkermes by 11.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock valued at $21,321,000 after buying an additional 73,787 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Alkermes by 18.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 134,387 shares of the company’s stock valued at $4,032,000 after purchasing an additional 21,067 shares in the last quarter. New York State Common Retirement Fund increased its position in Alkermes by 38.9% during the 3rd quarter. New York State Common Retirement Fund now owns 195,999 shares of the company’s stock valued at $5,880,000 after purchasing an additional 54,915 shares during the period. Finally, Frazier Life Sciences Management L.P. boosted its position in Alkermes by 66.5% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,000,647 shares of the company’s stock valued at $28,629,000 after acquiring an additional 399,518 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $33.93, for a total transaction of $305,370.00. Following the sale, the executive vice president owned 57,740 shares of the company’s stock, valued at approximately $1,959,118.20. This trade represents a 13.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shane Cooke sold 61,200 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the completion of the transaction, the director owned 103,744 shares of the company’s stock, valued at approximately $3,586,430.08. The trade was a 37.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 148,148 shares of company stock worth $5,028,378 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Alkermes Price Performance

ALKS stock opened at $31.91 on Friday. The firm has a market capitalization of $5.27 billion, a P/E ratio of 15.80 and a beta of 0.49. The business’s 50-day moving average is $31.20 and its two-hundred day moving average is $30.03. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.32.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALKS. Needham & Company LLC boosted their price target on Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Bank of America boosted their price target on shares of Alkermes from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday. Truist Financial boosted their price target on Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. Finally, Jefferies Financial Group set a $56.00 price target on shares of Alkermes and gave the company a “buy” rating in a research report on Tuesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and an average target price of $43.93.

Alkermes Company 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.