Insider Selling: Alkermes (NASDAQ:ALKS) Director Sells 2,000 Shares of Stock

Alkermes plc (NASDAQ:ALKS) Director Christopher Wright sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares of the company’s stock, valued at $1,158,168. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Down 1.4%

Shares of NASDAQ:ALKS traded down $0.64 during trading on Friday, hitting $44.28. The company had a trading volume of 1,523,005 shares, compared to its average volume of 1,896,551. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 49.20 and a beta of 0.38. Alkermes plc has a one year low of $25.17 and a one year high of $45.76. The company has a fifty day simple moving average of $37.10 and a two-hundred day simple moving average of $32.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $384.55 million during the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. As a group, equities analysts forecast that Alkermes plc will post -0.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALKS has been the subject of a number of research analyst reports. HC Wainwright reissued a “neutral” rating and set a $43.00 price target on shares of Alkermes in a research note on Thursday, February 26th. Wells Fargo & Company raised their price target on Alkermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Needham & Company LLC raised their price target on Alkermes from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and an average target price of $46.13.

Institutional Investors Weigh In On Alkermes

Institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark Inc. raised its position in Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Alkermes during the 4th quarter valued at $28,000. Johnson Financial Group Inc. bought a new stake in Alkermes during the 3rd quarter valued at $31,000. UMB Bank n.a. raised its position in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after purchasing an additional 446 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Alkermes by 395.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after purchasing an additional 989 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

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.