Commodore Capital LP Has $148.51 Million Stock Holdings in Alkermes plc $ALKS

Commodore Capital LP lifted its stake in Alkermes plc (NASDAQ:ALKS) by 18.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,200,000 shares of the company’s stock after purchasing an additional 650,000 shares during the quarter. Alkermes accounts for approximately 8.6% of Commodore Capital LP’s holdings, making the stock its 2nd biggest position. Commodore Capital LP’s holdings in Alkermes were worth $148,512,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALKS. Tudor Investment Corp ET AL bought a new stake in shares of Alkermes during the third quarter valued at approximately $1,691,000. Profund Advisors LLC raised its holdings in Alkermes by 80.9% in the 4th quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock worth $2,256,000 after acquiring an additional 36,067 shares during the last quarter. Fisher Asset Management LLC lifted its position in Alkermes by 21.0% in the 4th quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after acquiring an additional 67,745 shares in the last quarter. UBS Group AG lifted its position in Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock valued at $71,206,000 after acquiring an additional 1,790,729 shares in the last quarter. Finally, Abacus FCF Advisors LLC purchased a new stake in Alkermes during the 4th quarter valued at $6,141,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Performance

Shares of ALKS opened at $52.89 on Monday. The firm has a market capitalization of $8.82 billion, a P/E ratio of 58.77 and a beta of 0.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The business has a fifty day moving average of $46.92 and a 200 day moving average of $37.50.

Insiders Place Their Bets

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the completion of the sale, the executive vice president directly owned 229,524 shares in the company, valued at $9,881,008.20. The trade was a 0.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the sale, the director directly owned 25,680 shares of the company’s stock, valued at $1,158,168. The trade was a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 35,102 shares of company stock valued at $1,494,410. Insiders own 4.59% of the company’s stock.

Analyst Upgrades and Downgrades

ALKS has been the subject of a number of research analyst reports. Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. JPMorgan Chase & Co. assumed coverage on shares of Alkermes in a report on Monday, July 13th. They set a “neutral” rating and a $60.00 price target on the stock. TD Cowen lifted their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Needham & Company LLC boosted their price objective on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Wells Fargo & Company increased their price objective on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.50.

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.