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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total value of $463,590.00. Following the transaction, the executive vice president owned 73,389 shares in the company, valued at $3,780,267.39. This represents a 10.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Down 1.3%

Shares of ALKS opened at $51.72 on Thursday. The firm has a market cap of $8.62 billion, a P/E ratio of 57.47 and a beta of 0.34. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.28. The stock’s 50 day moving average is $40.88 and its two-hundred day moving average is $34.53. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85.

Alkermes (NASDAQ:ALKS) last announced its earnings results 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 business had revenue of $384.55 million during the quarter. Analysts predict that Alkermes plc will post -0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alkermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Alkermes in the fourth quarter valued at about $54,442,000. Baker BROS. Advisors LP boosted its position in Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after acquiring an additional 1,920,916 shares during the last quarter. UBS Group AG grew its stake in Alkermes by 237.4% during the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock valued at $71,206,000 after acquiring an additional 1,790,729 shares in the last quarter. First Trust Advisors LP raised its holdings in Alkermes by 104.2% in the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after acquiring an additional 1,514,783 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after purchasing an additional 1,256,377 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ALKS. Bank of America reaffirmed an “underperform” rating on shares of Alkermes in a report on Monday. Royal Bank Of Canada upped their price target on shares of Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 9th. Needham & Company LLC raised their price target 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. Truist Financial upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Piper Sandler cut their price objective on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus 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.