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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $33.93, for a total transaction of $305,370.00. Following the sale, the executive vice president owned 57,740 shares of the company’s stock, valued at approximately $1,959,118.20. This represents a 13.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alkermes Stock Down 1.4%

Alkermes stock opened at $34.47 on Wednesday. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $36.45. The stock has a market cap of $5.69 billion, a P/E ratio of 17.06 and a beta of 0.49. The company’s 50-day moving average price is $30.06 and its two-hundred day moving average price is $29.46.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Alkermes by 117.2% in the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock valued at $9,098,000 after purchasing an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alkermes during the 1st quarter worth $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alkermes by 4.3% during 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 buying an additional 20,091 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Alkermes by 480.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,418 shares of the company’s stock worth $126,000 after buying an additional 3,657 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Alkermes by 47.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 113,320 shares of the company’s stock valued at $3,242,000 after buying an additional 36,467 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ALKS. Zacks Research upgraded shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Piper Sandler restated an “overweight” rating and set a $45.00 target price (up previously from $38.00) on shares of Alkermes in a research report on Thursday, October 23rd. Wall Street Zen cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a report on Sunday, November 9th. Royal Bank Of Canada lifted their price target on shares of Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Alkermes from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus 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.