On March 1, 2023 at 09:49:51 ET an unusually large $22.48K block of Call contracts in Alkermes (ALKS) was bought, with a strike price of $28.00 / share, expiring in 16 days (on March 17, 2023). Fintel tracks all large options trades, and the premium spent on this trade was ? sigmas above the mean, placing it in the percentile of all recent large trades made in ALKS options.
This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.
Analyst Price Forecast Suggests 23.21% Upside
As of March 1, 2023, the average one-year price target for Alkermes is $32.95. The forecasts range from a low of $27.27 to a high of $44.10. The average price target represents an increase of 23.21% from its latest reported closing price of $26.74.
The projected annual revenue for Alkermes is $1,179MM, an increase of 6.04%. The projected annual EPS is $0.36.
What is the Fund Sentiment?
There are 648 funds or institutions reporting positions in Alkermes. This is a decrease of 5 owner(s) or 0.77% in the last quarter. Average portfolio weight of all funds dedicated to ALKS is 0.33%, a decrease of 3.39%. Total shares owned by institutions decreased in the last three months by 0.16% to 182,003K shares. The put/call ratio of ALKS is 0.25, indicating a bullish outlook.
What are large shareholders doing?
Sarissa Capital Management holds 8,965K shares representing 5.45% ownership of the company. In it’s prior filing, the firm reported owning 14,040K shares, representing a decrease of 56.62%. The firm decreased its portfolio allocation in ALKS by 21.32% over the last quarter.
Citadel Advisors holds 6,428K shares representing 3.91% ownership of the company. In it’s prior filing, the firm reported owning 3,682K shares, representing an increase of 42.72%. The firm increased its portfolio allocation in ALKS by 109.37% over the last quarter.
Wellington Management Group Llp holds 6,044K shares representing 3.68% ownership of the company. In it’s prior filing, the firm reported owning 6,722K shares, representing a decrease of 11.22%. The firm decreased its portfolio allocation in ALKS by 99.99% over the last quarter.
Renaissance Technologies holds 5,645K shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 5,556K shares, representing an increase of 1.57%. The firm increased its portfolio allocation in ALKS by 14.97% over the last quarter.
Hardman Johnston Global Advisors holds 5,562K shares representing 3.38% ownership of the company. In it’s prior filing, the firm reported owning 5,734K shares, representing a decrease of 3.10%. The firm decreased its portfolio allocation in ALKS by 1.25% over the last quarter.
Alkermes Background Information
(This description is provided by the company.)
Alkermes plc is a fully integrated, global biopharmaceutical company developing innovative medicines in the fields of neuroscience and oncology. The company has a portfolio of proprietary commercial products focused on addiction and schizophrenia, and a pipeline of product candidates in development for schizophrenia, bipolar I disorder, neurodegenerative disorders, and cancer. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and a manufacturing facility in Wilmington, Ohio.
This article originally appeared on Fintel
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