5 Stocks to Invest in According to Kenneth Squire’s 13D Management

4. Alkermes plc (NASDAQ:ALKS)

13D Management Stake Value: $13,865,000
Percentage of 13D Management’s 13F Portfolio: 5.15%
Number of Hedge Fund Holders: 36

Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical firm specializing in discovering, researching, and commercializing medications to meet unmet medical needs in significant therapeutic areas. The company’s biggest stakeholder is Sarissa Capital Management, with 13.21 million shares worth $407.49 million.

In November, Mizuho analyst Vamil Divan lowered his price target on Alkermes to $33 from $36 and rated the stock as “Neutral.” Alkermes’ disclosure that Johnson & Johnson (NYSE:JNJ) is attempting to partially terminate two agreements on J&J’s long-acting Invega drugs stunned the analyst.

Alkermes plc saw an increase in hedge fund sentiment recently. The number of long hedge fund positions climbed to 36 at the end of the second quarter, compared to 31 positions in the previous quarter.