Aberdeen Group plc Decreases Stake in Alkermes plc $ALKS

Aberdeen Group plc lowered its stake in shares of Alkermes plc (NASDAQ:ALKS) by 18.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 146,224 shares of the company’s stock after selling 32,495 shares during the period. Aberdeen Group plc’s holdings in Alkermes were worth $4,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Assetmark Inc. raised its holdings in shares of Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after acquiring an additional 747 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Alkermes by 11.6% in the third 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 during the period. Illinois Municipal Retirement Fund boosted its position in Alkermes by 7.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 91,616 shares of the company’s stock worth $2,748,000 after purchasing an additional 6,674 shares during the period. LSV Asset Management acquired a new stake in Alkermes in the third quarter valued at approximately $444,000. Finally, Caprock Group LLC acquired a new stake in shares of Alkermes during the third quarter valued at about $331,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the 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 owned 57,740 shares of the company’s stock, valued at $1,959,118.20. This represents a 13.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shane Cooke sold 61,200 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 103,744 shares of the company’s stock, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 148,148 shares of company stock worth $5,028,378 in the last 90 days. 4.40% of the stock is owned by corporate insiders.

Alkermes Price Performance

Shares of Alkermes stock opened at $31.91 on Friday. The firm has a market capitalization of $5.27 billion, a PE ratio of 15.80 and a beta of 0.49. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.32. The company’s fifty day moving average price is $31.20 and its two-hundred day moving average price is $30.03.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALKS. Jefferies Financial Group set a $56.00 price objective on Alkermes and gave the company a “buy” rating in a research note on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Truist Financial increased their price objective on Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Wells Fargo & Company lowered their price target on Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.93.

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.