Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $112,000.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 4,000 shares of Alkermes stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $28.00, for a total transaction of $112,000.00. Following the transaction, the executive vice president directly owned 61,740 shares of the company’s stock, valued at approximately $1,728,720. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $28.26 on Monday. The company has a market capitalization of $4.67 billion, a PE ratio of 13.99 and a beta of 0.48. The company’s fifty day moving average price is $29.42 and its 200 day moving average price is $29.05. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The company had revenue of $394.19 million during the quarter, compared to analysts’ expectations of $355.23 million. During the same quarter in the previous year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, equities analysts expect that Alkermes plc will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

ALKS has been the topic of several research analyst reports. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research report on Monday, December 29th. Jefferies Financial Group set a $56.00 price target on shares of Alkermes and gave the stock a “buy” rating in a report on Tuesday, October 28th. Needham & Company LLC upped their price objective on shares of Alkermes from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Zacks Research downgraded shares of Alkermes from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.69.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. acquired a new stake in Alkermes during the 1st quarter worth $587,000. Royal Bank of Canada lifted its stake in shares of Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after buying an additional 148,696 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Alkermes by 23.4% during the 1st quarter. Advisors Asset Management Inc. now owns 17,460 shares of the company’s stock valued at $577,000 after acquiring an additional 3,316 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alkermes by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 102,885 shares of the company’s stock valued at $3,399,000 after acquiring an additional 2,853 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Alkermes during the 1st quarter valued at about $213,000. 95.21% of the stock is owned by institutional investors and hedge funds.

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.