Federated Hermes Inc. increased its stake in Alkermes plc (NASDAQ:ALKS – Free Report) by 44.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,796 shares of the company’s stock after purchasing an additional 37,101 shares during the quarter. Federated Hermes Inc. owned about 0.07% of Alkermes worth $3,405,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of ALKS. Profund Advisors LLC lifted its stake in shares of Alkermes by 2.0% in the 4th quarter. Profund Advisors LLC now owns 22,216 shares of the company’s stock worth $581,000 after acquiring an additional 437 shares during the period. Fisher Asset Management LLC boosted its stake in Alkermes by 0.3% during the 1st quarter. Fisher Asset Management LLC now owns 131,877 shares of the company’s stock valued at $3,718,000 after purchasing an additional 449 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Alkermes by 105.4% during the 1st quarter. TCI Wealth Advisors Inc. now owns 908 shares of the company’s stock valued at $26,000 after purchasing an additional 466 shares during the period. Alliancebernstein L.P. raised its stake in shares of Alkermes by 0.3% in the 4th quarter. Alliancebernstein L.P. now owns 195,581 shares of the company’s stock worth $5,111,000 after buying an additional 500 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Alkermes by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 86,947 shares of the company’s stock valued at $2,272,000 after buying an additional 544 shares during the period. Institutional investors own 99.39% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on ALKS shares. Mizuho boosted their price target on shares of Alkermes from $36.00 to $40.00 in a research report on Wednesday, June 7th. TheStreet raised shares of Alkermes from a “c” rating to a “b” rating in a research note on Wednesday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of Alkermes from $29.00 to $31.00 in a research report on Tuesday, April 25th. Piper Sandler lifted their price target on Alkermes from $35.00 to $37.00 in a research note on Wednesday, June 7th. Finally, StockNews.com started coverage on shares of Alkermes in a research note on Thursday, May 18th. They set a “strong-buy” rating for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $33.33.
Alkermes Trading Up 1.8 %
Shares of NASDAQ ALKS opened at $28.86 on Wednesday. The firm has a market capitalization of $4.81 billion, a PE ratio of 50.63 and a beta of 0.60. Alkermes plc has a one year low of $21.75 and a one year high of $33.71. The company has a current ratio of 2.87, a quick ratio of 2.48 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $30.53 and a two-hundred day moving average price of $29.17.
Insider Buying and Selling
In other Alkermes news, SVP Christian Todd Nichols sold 27,134 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $28.93, for a total value of $784,986.62. Following the transaction, the senior vice president now owns 40,984 shares in the company, valued at approximately $1,185,667.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alkermes news, SVP Christian Todd Nichols sold 27,134 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $28.93, for a total value of $784,986.62. Following the transaction, the senior vice president now owns 40,984 shares in the company, valued at $1,185,667.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cato T. Laurencin sold 2,800 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $31.50, for a total value of $88,200.00. Following the sale, the director now directly owns 7,479 shares of the company’s stock, valued at $235,588.50. The disclosure for this sale can be found here. 4.76% of the stock is currently owned by corporate insiders.
Alkermes Profile
Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.
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