Pacer Advisors Inc. Has $24.35 Million Stock Position in Alkermes plc $ALKS

Pacer Advisors Inc. raised its holdings in shares of Alkermes plc (NASDAQ:ALKS) by 2.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 688,563 shares of the company’s stock after acquiring an additional 13,689 shares during the quarter. Pacer Advisors Inc. owned approximately 0.41% of Alkermes worth $24,348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Fleet Capital Management LP acquired a new position in Alkermes during the first quarter worth $855,000. Stempoint Capital LP acquired a new stake in Alkermes in the 1st quarter valued at $2,846,000. Janus Henderson Group PLC increased its stake in Alkermes by 5.6% in the 1st quarter. Janus Henderson Group PLC now owns 154,016 shares of the company’s stock valued at $5,447,000 after buying an additional 8,212 shares during the last quarter. Amundi boosted its stake in shares of Alkermes by 99.8% during the 1st quarter. Amundi now owns 64,710 shares of the company’s stock worth $2,288,000 after buying an additional 32,327 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Alkermes by 33.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,278 shares of the company’s stock worth $116,000 after buying an additional 823 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total value of $98,811.72. Following the sale, the executive vice president owned 225,456 shares in the company, valued at $10,952,652.48. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 79,574 shares of company stock worth $3,901,478 in the last three months. 4.59% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $65.00 target price (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. Stifel Nicolaus restated a “buy” rating and issued a $63.00 price target (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on Alkermes from $60.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Finally, TD Cowen increased their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.56.

Key Stories Impacting Alkermes

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Analysts have assigned Alkermes a consensus rating of “Moderate Buy,” indicating that Wall Street’s overall stance remains favorable toward the company and its outlook. Alkermes Receives Consensus Recommendation of Moderate Buy
• Neutral Sentiment: HC Wainwright published an estimate for Alkermes’ third-quarter earnings. The report could influence trading as investors assess whether upcoming results can support the company’s premium valuation, although the specific estimate was not provided. HC Wainwright Estimates Alkermes’ Q3 Earnings
• Negative Sentiment: Director Nancy Lynn Md Snyderman sold 44,472 ALKS shares for approximately $2.24 million, reducing her direct ownership by about 74%. The sizable sale may raise concern about insider confidence, although the filing does not establish that the transaction reflects a negative view of the business. SEC insider transaction filing
• Negative Sentiment: EVP Craig C. Hopkinson sold 9,000 shares valued at roughly $437,000, cutting his direct holdings by 11.48%. The sale was made under a pre-arranged Rule 10b5-1 trading plan, which reduces its significance as a discretionary bearish signal. SEC insider transaction filing
• Negative Sentiment: EVP David Joseph Gaffin sold 2,034 shares for approximately $99,000, reducing ownership by 0.89%. This transaction also occurred under a pre-arranged Rule 10b5-1 plan and is relatively small compared with his remaining stake. SEC insider transaction filing

Alkermes Stock Up 1.1%

Shares of ALKS stock opened at $49.53 on Tuesday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.67. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 130.35 and a beta of 0.34. The firm’s 50-day moving average is $48.49 and its 200-day moving average is $38.38. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30.

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.