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Highlights:
Natixis Advisors LLC increased its stake in Alkermes plc by 190.3% in the third quarter, purchasing an additional 23,921 shares.
Institutional investors, including V Square Quantitative Management and GAMMA Investing, have been actively adjusting their positions in Alkermes.
Alkermes stock has seen analyst upgrades and price adjustments, reflecting mixed outlooks from different brokerages.
Alkermes plc (NASDAQ:ALKS) has seen a significant increase in institutional involvement, with Natixis Advisors LLC boosting its stake in the company by 190.3% during the third quarter of 2024. According to the company's latest SEC disclosure, Natixis Advisors now owns 36,490 shares of Alkermes, valued at over $1 million. This purchase follows a broader trend of institutional investors either increasing or adjusting their positions in Alkermes, reflecting growing interest in the biopharmaceutical company. Other institutional stakeholders, such as V Square Quantitative Management LLC and GAMMA Investing, have made changes to their holdings, further contributing to the company’s institutional backing.
In addition to institutional activity, Alkermes has experienced insider trading. EVP Craig C. Hopkinson recently sold 58,996 shares of the company, reducing his stake by over 41%. This transaction, valued at approximately $1.8 million, indicates a notable shift in the executive’s holdings but does not appear to significantly affect the company's overall stock performance.
The company has also been the subject of various analyst reports, with ratings ranging from "Buy" to "Hold". Brokerages such as Piper Sandler and Mizuho Securities have made adjustments to their price targets, while firms like Goldman Sachs have lowered their outlooks for Alkermes. This mixed sentiment among analysts suggests a nuanced perspective on the company's future potential. Despite these adjustments, Alkermes continues to be viewed positively by a majority of analysts, with an average consensus rating of "Moderate Buy" and a consensus price target of approximately $35.42.
Alkermes, which focuses on addressing unmet medical needs through its portfolio of commercial and developmental pharmaceutical products, has remained a point of interest for both institutional entities and analysts. With its expanding market presence and pipeline developments, the company’s performance continues to be closely watched by the industry.
