Craig Hopkinson Sells 9,000 Shares of Alkermes (NASDAQ:ALKS) Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $29.72, for a total value of $267,480.00. Following the sale, the executive vice president owned 89,389 shares in the company, valued at approximately $2,656,641.08. The trade was a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alkermes Stock Performance

NASDAQ ALKS traded up $0.08 during trading hours on Wednesday, hitting $29.28. The company had a trading volume of 1,753,117 shares, compared to its average volume of 1,842,072. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 7.28 and a beta of 0.53. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.32. The firm has a 50 day simple moving average of $31.60 and a 200 day simple moving average of $30.24.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The firm had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $380.44 million. During the same period in the previous year, the company posted $1.05 earnings per share. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. On average, research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Institutional Trading of Alkermes

Several hedge funds and other institutional investors have recently bought and sold shares of ALKS. Norges Bank purchased a new stake in shares of Alkermes in the 4th quarter valued at $54,442,000. Baker BROS. Advisors LP raised its position in Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after purchasing an additional 1,920,916 shares during the period. UBS Group AG lifted its stake in Alkermes by 237.4% in the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after purchasing an additional 1,790,729 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after buying an additional 1,256,377 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Alkermes by 1,070.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock valued at $36,268,000 after buying an additional 1,105,666 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Alkermes from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Royal Bank Of Canada cut their price objective on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. Truist Financial raised their target price on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, November 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research report on Monday, December 29th. Finally, Wolfe Research initiated coverage on shares of Alkermes in a report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.07.

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.