Alkermes (NASDAQ:ALKS) EVP Sells $375,030.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.67, for a total value of $375,030.00. Following the completion of the sale, the executive vice president owned 77,389 shares in the company, valued at $3,224,799.63. This represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Up 3.5%

Shares of Alkermes stock opened at $42.76 on Thursday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $42.87. The stock’s 50-day simple moving average is $35.33 and its 200 day simple moving average is $32.01. The stock has a market capitalization of $7.13 billion, a P/E ratio of 47.51 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALKS. Assetmark Inc. grew its holdings in shares of Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after purchasing an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Alkermes during the fourth quarter worth about $28,000. Johnson Financial Group Inc. purchased a new position in shares of Alkermes during the third quarter worth about $31,000. UMB Bank n.a. grew its holdings in shares of Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALKS. Wolfe Research began coverage on Alkermes in a report on Monday, February 23rd. They set an “outperform” rating and a $45.00 target price for the company. Piper Sandler reduced their target price on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Royal Bank Of Canada reduced their target price on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, February 26th. UBS Group lifted their target price on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC lifted their target price on Alkermes from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One research 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. According to data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.40.

Alkermes Company Profile

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.