Atle Fund Management AB Raises Stock Holdings in Alkermes plc $ALKS

Atle Fund Management AB raised its position in Alkermes plc (NASDAQ:ALKS) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,875 shares of the company’s stock after purchasing an additional 25,651 shares during the period. Alkermes comprises about 3.0% of Atle Fund Management AB’s investment portfolio, making the stock its 13th largest position. Atle Fund Management AB owned about 0.15% of Alkermes worth $7,586,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALKS. Capital Fund Management S.A. acquired a new position in Alkermes in the second quarter valued at $1,142,000. Robeco Institutional Asset Management B.V. boosted its holdings in Alkermes by 18.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 134,387 shares of the company’s stock worth $4,032,000 after acquiring an additional 21,067 shares during the period. EcoR1 Capital LLC acquired a new stake in Alkermes during the 2nd quarter valued at $14,305,000. Frazier Life Sciences Management L.P. grew its stake in shares of Alkermes by 66.5% during the second 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. Finally, Magnetar Financial LLC acquired a new stake in Alkermes during the 2nd quarter valued at approximately $3,538,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 5,000 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the transaction, the executive vice president directly owned 61,740 shares of the company’s stock, valued at $1,852,200. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 25,748 shares of company stock valued at $765,060 in the last three months. Corporate insiders own 4.40% of the company’s stock.

Alkermes Trading Down 2.8%

ALKS opened at $33.89 on Friday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 16.78 and a beta of 0.48. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.45. The stock has a fifty day moving average price of $29.82 and a 200 day moving average price of $29.38.

Analyst Ratings Changes

Several research firms have recently weighed in on ALKS. Royal Bank Of Canada boosted their target price 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. Truist Financial increased their price objective on shares of Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, November 17th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research report on Wednesday, October 22nd. Mizuho increased their price objective on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Finally, Jefferies Financial Group set a $56.00 target price on Alkermes and gave the company a “buy” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus price target of $44.69.

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.