Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $305,370.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $33.93, for a total transaction of $305,370.00. Following the completion of the transaction, the executive vice president owned 57,740 shares of the company’s stock, valued at approximately $1,959,118.20. This trade represents a 13.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alkermes Trading Down 1.0%

ALKS opened at $34.13 on Thursday. The business’s 50 day moving average is $30.15 and its 200-day moving average is $29.49. The stock has a market cap of $5.64 billion, a PE ratio of 16.90 and a beta of 0.49. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in ALKS. Capital Fund Management S.A. purchased a new position in Alkermes during the 2nd quarter valued at about $1,142,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Alkermes by 18.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 134,387 shares of the company’s stock worth $4,032,000 after purchasing an additional 21,067 shares during the period. EcoR1 Capital LLC purchased a new position in Alkermes during the second quarter valued at approximately $14,305,000. Frazier Life Sciences Management L.P. grew its position in Alkermes by 66.5% during the second quarter. Frazier Life Sciences Management L.P. now owns 1,000,647 shares of the company’s stock valued at $28,629,000 after purchasing an additional 399,518 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in Alkermes in the 2nd quarter valued at approximately $3,538,000. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALKS. Zacks Research raised Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Truist Financial increased their target price on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Mizuho boosted their price target on shares of Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Jefferies Financial Group set a $56.00 price objective on shares of Alkermes and gave the company a “buy” rating in a report on Tuesday, October 28th. Finally, Needham & Company LLC raised their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and a consensus price target of $44.69.

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.