- Akermes ( NASDAQ: ALKS ) shareholder Sarissa Capital disclosed that it may seek to raise its stake in the biohpharma company.
- Sarissa, which owns ~14 million shares, or a 8.55% stake, said that it intends "to enhance the buying power in one of its concentrated accounts by temporarily converting the shares held in that account into physically settled swaps, according to a 13D filing.
- Activist investor Sarissa, led Alex Denner, who at one time worked for Carl Icahn, has been pressuring the company since at least last year. Last April Alkermes reached and agreement with Sarissa that gave the activist the right to designate a board member. Alkermes shares have dropped 5% this year and are up 0.6% since announcing the pact with Sarissa.
- Sarissa said in the Friday filing that it continues to believe Alkermes ( ALKS ) is "significantly undervalued" and that also believe that while CEO Richard Pops "remains an impediment to the creation of shareholder value" at the company.
- In August Alkermes was initiated at neutral at Piper Sandler as a company in transition.
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Alkermes holder Sarissa Capital says it may look to increase its stake