Craig Hopkinson Sells 5,000 Shares of Alkermes (NASDAQ:ALKS) Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the transaction, the executive vice president owned 61,740 shares in the company, valued at approximately $1,852,200. This trade represents a 7.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Alkermes Trading Up 0.2%

Shares of Alkermes stock opened at $29.66 on Friday. The firm has a fifty day simple moving average of $29.26 and a 200-day simple moving average of $29.05. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 14.68 and a beta of 0.48. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.41 by $0.08. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The firm had revenue of $394.19 million for the quarter, compared to the consensus estimate of $355.23 million. During the same quarter last year, the firm posted $0.73 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. As a group, research analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.

Hedge Funds Weigh In On Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp boosted its position in shares of Alkermes by 2.3% during the 2nd quarter. State Street Corp now owns 8,208,256 shares of the company’s stock valued at $234,838,000 after acquiring an additional 185,586 shares in the last quarter. Baker BROS. Advisors LP raised its holdings in shares of Alkermes by 26.2% in the 3rd quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock worth $242,741,000 after buying an additional 1,680,748 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Alkermes by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after buying an additional 740,248 shares during the period. Geode Capital Management LLC boosted its stake in Alkermes by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 4,023,552 shares of the company’s stock valued at $115,128,000 after buying an additional 83,858 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Alkermes by 19.4% in the third quarter. Dimensional Fund Advisors LP now owns 3,697,996 shares of the company’s stock valued at $110,925,000 after acquiring an additional 601,359 shares during the period. 95.21% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ALKS has been the topic of several recent analyst reports. Mizuho lifted their price target on Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Wall Street Zen cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Jefferies Financial Group set a $56.00 price target on shares of Alkermes and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Wells Fargo & Company cut their price objective on shares of Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 13th. Finally, 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 note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.