Federated Hermes Inc. Has $105,000 Holdings in Alkermes plc $ALKS

Federated Hermes Inc. decreased its holdings in Alkermes plc (NASDAQ:ALKS) by 84.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,501 shares of the company’s stock after selling 19,313 shares during the quarter. Federated Hermes Inc.’s holdings in Alkermes were worth $105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Alkermes in the second quarter worth approximately $49,000. Osaic Holdings Inc. grew its holdings in Alkermes by 56.4% during the second quarter. Osaic Holdings Inc. now owns 1,945 shares of the company’s stock worth $56,000 after buying an additional 701 shares in the last quarter. EMC Capital Management bought a new stake in Alkermes during the second quarter worth $69,000. Elevation Point Wealth Partners LLC purchased a new stake in Alkermes in the 2nd quarter valued at $82,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Alkermes by 96.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,283 shares of the company’s stock valued at $94,000 after acquiring an additional 1,610 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALKS has been the subject of several recent analyst reports. Truist Financial upped their target price on shares of Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, November 17th. Zacks Research raised shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. Mizuho increased their price objective on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research note on Monday, December 29th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and a consensus target price of $44.69.

Alkermes Trading Down 0.2%

NASDAQ:ALKS opened at $34.84 on Tuesday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The firm’s 50 day moving average is $30.47 and its 200 day moving average is $29.67. The stock has a market capitalization of $5.75 billion, a PE ratio of 17.25 and a beta of 0.49.

Insiders Place Their Bets

In related news, Director Shane Cooke sold 61,200 shares of Alkermes 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 completion of the sale, the director owned 103,744 shares of the company’s stock, valued at approximately $3,586,430.08. This trade represents a 37.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $33.93, for a total transaction of $305,370.00. Following the sale, the executive vice president directly owned 57,740 shares in the company, valued at approximately $1,959,118.20. This trade represents a 13.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 148,148 shares of company stock valued at $5,028,378 over the last three months. Company insiders own 4.40% of the company’s stock.

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.