Alkermes (NASDAQ:ALKS) EVP Sells $437,220.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total transaction of $437,220.00. Following the transaction, the executive vice president owned 69,389 shares in the company, valued at $3,370,917.62. This trade represents a 11.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Up 1.1%

Shares of Alkermes stock traded up $0.54 during trading on Monday, hitting $49.53. The stock had a trading volume of 1,835,722 shares, compared to its average volume of 1,802,994. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The firm’s fifty day simple moving average is $48.49 and its 200-day simple moving average is $38.38. The stock has a market cap of $8.31 billion, a PE ratio of 130.35 and a beta of 0.34.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Weiss Ratings downgraded Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. TD Cowen boosted their target price on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Piper Sandler restated an “overweight” rating and issued a $65.00 price target (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. Finally, Royal Bank Of Canada raised their price target on shares of Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.56.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Alkermes by 117.2% during the 1st 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. Ashton Thomas Private Wealth LLC purchased a new position in Alkermes during the 1st quarter valued at about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alkermes by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock worth $15,927,000 after purchasing an additional 20,091 shares during the period. Cetera Investment Advisers raised its stake in Alkermes by 32.3% in the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after buying an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in Alkermes by 539.4% during the second quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock worth $200,000 after buying an additional 5,885 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.