Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells 9,000 Shares of Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total value of $463,590.00. Following the sale, the executive vice president owned 73,389 shares of the company’s stock, valued at $3,780,267.39. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Down 1.3%

Alkermes stock traded down $0.68 during trading hours on Wednesday, reaching $51.72. The company had a trading volume of 1,638,366 shares, compared to its average volume of 2,335,762. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The company has a 50-day moving average price of $40.53 and a 200 day moving average price of $34.37. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 57.47 and a beta of 0.38. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.28.

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

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Alkermes by 117.2% during the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after acquiring an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes during the first quarter valued at approximately $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alkermes by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after purchasing an additional 20,091 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Alkermes by 32.3% in the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Alkermes by 539.4% in the 2nd quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock worth $200,000 after purchasing an additional 5,885 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on ALKS. Piper Sandler cut their price target on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Needham & Company LLC upped their price objective on shares of Alkermes from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Bank of America reiterated an “underperform” rating on shares of Alkermes in a report on Monday. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings downgraded shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average target price of $48.38.

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.