Alkermes (NASDAQ:ALKS) EVP Craig Hopkinson Sells 4,000 Shares

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 4,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $28.00, for a total transaction of $112,000.00. Following the completion of the sale, the executive vice president owned 61,740 shares in the company, valued at $1,728,720. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alkermes Price Performance

ALKS opened at $28.26 on Friday. The firm has a market capitalization of $4.67 billion, a P/E ratio of 13.99 and a beta of 0.48. Alkermes plc has a one year low of $25.17 and a one year high of $36.45. The company has a fifty day moving average price of $29.42 and a 200-day moving average price of $29.06.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALKS. Assetmark Inc. boosted its holdings 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 acquiring an additional 747 shares during the period. Armstrong Advisory Group Inc. bought a new stake in Alkermes in the second quarter valued at approximately $29,000. Johnson Financial Group Inc. bought a new stake in Alkermes in the third quarter valued at approximately $31,000. Hantz Financial Services Inc. boosted its stake in shares of Alkermes by 395.6% during the third 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 during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Alkermes in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKS has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research note on Wednesday, October 22nd. Piper Sandler restated an “overweight” rating and set a $45.00 price objective (up previously from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Alkermes from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Jefferies Financial Group set a $56.00 target price on Alkermes and gave the company a “buy” rating in a research note on Tuesday, October 28th. Finally, Needham & Company LLC raised their price target on Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.69.

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.