Allianz Asset Management GmbH Acquires 511,702 Shares of Alkermes plc $ALKS

Allianz Asset Management GmbH boosted its holdings in Alkermes plc (NASDAQ:ALKS) by 3,908.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 524,795 shares of the company’s stock after buying an additional 511,702 shares during the period. Allianz Asset Management GmbH’s holdings in Alkermes were worth $15,744,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALKS shares. Truist Financial boosted their target price on Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. 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 report on Thursday, November 13th. Needham & Company LLC increased their target price on shares of Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Royal Bank Of Canada lifted their price target on shares of Alkermes from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Mizuho upped their price objective on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Alkermes Stock Up 4.1%

Alkermes stock opened at $34.91 on Friday. The stock has a market capitalization of $5.76 billion, a PE ratio of 17.28 and a beta of 0.49. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45. The company has a 50 day moving average of $30.35 and a 200-day moving average of $29.59.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $33.93, for a total value of $305,370.00. Following the sale, the executive vice president directly owned 57,740 shares in the company, valued at $1,959,118.20. The trade was a 13.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shane Cooke sold 61,200 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 148,148 shares of company stock worth $5,028,378 over the last ninety days. 4.40% of the stock is currently 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.