5 Pharma Companies Making Treatment for Opioid Overdose

2. Alkermes plc (NASDAQ: ALKS)

Number of Hedge Fund Holders: 31     

Alkermes plc (NASDAQ: ALKS) is placed second on our list of 10 pharma companies making treatment for opioid overdose. The company operates as a biopharma firm focusing on the development of drugs for various therapeutic needs. It is headquartered in Ireland. On June 1, the company announced that it obtained regulatory approval for Lybalvi, a drug marketed by the firm for the treatment of schizophrenia and bipolar I disorder. The drug is made from samidorphan, a newly developed opioid antagonist. 

On August 3, investment advisory Mizuho maintained a Buy rating on Alkermes plc (NASDAQ: ALKS) stock with a price target of $33, noting that there for additional upside as a new drug by the firm proceeded through registration processes. 

At the end of the first quarter of 2021, 31 hedge funds in the database of Insider Monkey held stakes worth $595 million in Alkermes plc (NASDAQ: ALKS), up from 30 the preceding quarter worth $678 million.