Friday we watched Alkermes drop -5.0% to a price of $28.76 per share. The mid-cap Pharmaceutical company is now trading -21.57% below its average target price of $36.67. Analysts have set target prices ranging from $30.0 to $48.0 per share for Alkermes, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 4.2%, and a short ratio of 4.23. Since 1.64% of the company's shares are owned by insiders, we can infer that there is a degree of alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 102.5% of Alkermes's shares being owned by this investor type.
Institutions Invested in Alkermes
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Vanguard Group Inc | 11% | 18,608,142 | $535,170,168 |
| 2023-03-31 | Blackrock Inc. | 10% | 16,621,253 | $478,027,240 |
| 2023-03-31 | Sarissa Capital Management, LP | 5% | 8,964,640 | $257,823,048 |
| 2023-03-31 | Wellington Management Group, LLP | 4% | 6,710,335 | $192,989,236 |
| 2023-03-31 | Hardman Johnston Global Advisors LLC | 4% | 6,013,421 | $172,945,989 |
| 2023-03-31 | State Street Corporation | 3% | 5,787,041 | $166,435,300 |
| 2023-03-31 | CIBC WORLD MARKET CORPORATION | 3% | 5,075,360 | $145,967,354 |
| 2023-03-31 | Renaissance Technologies, LLC | 3% | 4,938,913 | $142,043,139 |
| 2023-03-31 | Primecap Management Company | 3% | 4,198,290 | $120,742,821 |
| 2023-03-31 | Westfield Capital Management Co LP | 2% | 3,574,468 | $102,801,700 |
Besides an analyst consensus of strong upside potential, other market factors point to there being mixed market sentiment on Alkermes.
