Alkermes (NASDAQ:ALKS) Director Christopher Wright Sells 2,000 Shares

Alkermes plc (NASDAQ:ALKS) Director Christopher Wright sold 2,000 shares of Alkermes stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the sale, the director directly owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Down 1.4%

NASDAQ ALKS traded down $0.64 on Friday, reaching $44.28. 1,523,005 shares of the stock traded hands, compared to its average volume of 1,896,551. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. The company has a fifty day moving average price of $37.10 and a 200-day moving average price of $32.71. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 49.20 and a beta of 0.38. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $45.76.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The business had revenue of $384.55 million for the quarter. As a group, research analysts forecast that Alkermes plc will post -0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC grew its stake in Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock worth $340,000 after buying an additional 315 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Alkermes by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after buying an additional 351 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after buying an additional 376 shares during the last quarter. Horizon Investments LLC grew its stake in Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after buying an additional 387 shares during the last quarter. Finally, AMG National Trust Bank grew its stake in Alkermes by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock worth $1,805,000 after buying an additional 388 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALKS. Truist Financial upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Weiss Ratings downgraded Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen downgraded Alkermes from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, UBS Group lifted their price target on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $46.13.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.