What Is the Outlook for Alkermes Shares?

This afternoon we watched Alkermes rise 4.6% to a price of $28.57 per share. The mid-cap Pharmaceutical company is now trading -13.67% below its average target price of $33.09. Analysts have set target prices ranging from $25.0 to $42.0 per share for Alkermes, and have given the stock an average rating of buy.

The stock has an above average percentage of its shares sold short at 8.0%, and a short ratio of 7.91. Since 1.29% 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 106.9% of Alkermes's shares being owned by this investor type.

Institutions Invested in Alkermes

Date Reported Holder Percentage Shares Value
2023-09-30 Vanguard Group Inc 11% 18,667,269 $533,230,548
2023-09-30 Blackrock Inc. 10% 17,161,257 $490,211,315
2023-09-30 Wellington Management Group, LLP 7% 11,746,792 $335,547,119
2023-09-30 Sarissa Capital Management, LP 4% 7,042,200 $201,160,446
2023-09-30 Renaissance Technologies, LLC 4% 6,116,013 $174,703,914
2023-09-30 State Street Corporation 4% 6,091,494 $174,003,529
2023-09-30 Pictet Asset Management Holding SA 3% 5,484,028 $156,651,262
2023-12-31 Hardman Johnston Global Advisors LLC 3% 5,476,255 $156,429,226
2023-09-30 Deep Track Capital, Lp 2% 3,800,000 $108,547,002
2023-12-31 Primecap Management Company 2% 3,565,625 $101,852,080

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Alkermes.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.