CIBC Asset Management Inc Grows Holdings in Alkermes Plc (ALKS)
CIBC Asset Management Inc grew its position in shares of Alkermes Plc (NASDAQ:ALKS) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,287 shares of the company’s stock after purchasing an additional 818 shares during the period. CIBC Asset Management Inc’s holdings in Alkermes were worth $399,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in Alkermes by 13.7% during the third quarter. Janus Henderson Group PLC now owns 2,650,006 shares of the company’s stock worth $134,726,000 after purchasing an additional 319,014 shares in the last quarter. AMP Capital Investors Ltd raised its stake in shares of Alkermes by 11.0% in the third quarter. AMP Capital Investors Ltd now owns 53,745 shares of the company’s stock valued at $2,732,000 after acquiring an additional 5,306 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Alkermes in the third quarter valued at $284,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Alkermes by 206.3% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 261,977 shares of the company’s stock valued at $13,319,000 after acquiring an additional 176,442 shares in the last quarter. Finally, AXA acquired a new stake in shares of Alkermes in the third quarter valued at $8,487,000. Institutional investors own 98.89% of the company’s stock.
In other Alkermes news, insider Shane Cooke sold 6,207 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $60.22, for a total value of $373,785.54. Following the sale, the insider now directly owns 80,915 shares in the company, valued at $4,872,701.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James M. Frates sold 20,932 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $50.51, for a total value of $1,057,275.32. Following the completion of the sale, the senior vice president now owns 164,971 shares in the company, valued at $8,332,685.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,485 shares of company stock worth $8,227,502. 5.34% of the stock is owned by insiders.
ALKS has been the topic of several analyst reports. Mizuho set a $81.00 price objective on Alkermes and gave the company a “buy” rating in a research note on Saturday, October 21st. ValuEngine cut Alkermes from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Citigroup set a $62.00 price objective on Alkermes and gave the company a “hold” rating in a research note on Thursday, October 26th. Barclays set a $50.00 price objective on Alkermes and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group reduced their price objective on Alkermes from $70.00 to $66.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Alkermes has a consensus rating of “Hold” and a consensus price target of $64.17.
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Alkermes Company Profile
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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