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

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

Several other hedge funds have also recently bought and sold shares of ALKS. Seven Fleet Capital Management LP bought a new stake in shares of Alkermes during the first quarter worth approximately $855,000. Stempoint Capital LP acquired a new stake in Alkermes during the 1st quarter worth approximately $2,846,000. Janus Henderson Group PLC boosted 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 purchasing an additional 8,212 shares during the period. Amundi boosted its stake in Alkermes by 99.8% in the 1st quarter. Amundi now owns 64,710 shares of the company’s stock valued at $2,288,000 after purchasing an additional 32,327 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Alkermes by 33.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,278 shares of the company’s stock valued at $116,000 after buying an additional 823 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $49.53 on Tuesday. The stock has a market capitalization of $8.31 billion, a PE ratio of 130.35 and a beta of 0.34. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The business has a fifty day moving average price of $48.49 and a two-hundred day moving average price of $38.38. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $55.67.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total transaction of $437,220.00. Following the sale, the executive vice president owned 69,389 shares in the company, valued at approximately $3,370,917.62. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total value of $98,811.72. Following the completion of the sale, the executive vice president directly owned 225,456 shares in the company, valued at approximately $10,952,652.48. This represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 79,574 shares of company stock valued at $3,901,478. Company insiders own 4.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank Of Canada increased their price objective on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 9th. Needham & Company LLC upped their price target on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Bank of America restated an “underperform” rating on shares of Alkermes in a research note on Monday, June 29th. Weiss Ratings lowered shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.56.

Key Headlines 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 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.