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

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

Alkermes Price Performance

Alkermes stock traded down $0.68 during midday trading on Wednesday, hitting $51.72. 1,638,366 shares of the company’s stock were exchanged, compared to its average volume of 2,335,762. The company has a market cap of $8.62 billion, a P/E ratio of 57.47 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. The stock has a 50-day moving average price of $40.53 and a two-hundred day moving average price of $34.37. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.28.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The firm 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%. On average, equities research analysts forecast that Alkermes plc will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. bought a new position in shares of Alkermes during the 4th quarter valued at $28,000. Johnson Financial Group Inc. bought a new stake in Alkermes in the third quarter worth $31,000. UMB Bank n.a. boosted its position in Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after buying an additional 446 shares during the period. Salomon & Ludwin LLC boosted its position in Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after buying an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Alkermes by 1,041.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock valued at $37,000 after buying an additional 1,208 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALKS has been the topic of several research reports. Weiss Ratings cut shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Robert W. Baird upped their target price on shares of Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Wells Fargo & Company increased their target price on Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday. Piper Sandler dropped their price target on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Finally, Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.38.

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.