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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $35.51, for a total transaction of $319,590.00. Following the transaction, the executive vice president owned 85,389 shares of the company’s stock, valued at $3,032,163.39. This represents a 9.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Alkermes Stock Down 0.6%

Shares of NASDAQ:ALKS opened at $34.84 on Friday. The company’s 50-day moving average price is $31.40 and its 200 day moving average price is $30.31. The company has a market cap of $5.79 billion, a PE ratio of 24.36, a P/E/G ratio of 8.74 and a beta of 0.44. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.48.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The firm had revenue of $384.55 million during the quarter, compared to analyst estimates of $380.44 million. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. Alkermes’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, equities analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALKS shares. Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Zacks Research downgraded shares of Alkermes from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. Royal Bank Of Canada lowered their price objective on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Wells Fargo & Company boosted their target price on Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Finally, Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.93.

Institutional Trading of Alkermes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Alkermes in the fourth quarter worth approximately $54,442,000. Baker BROS. Advisors LP grew its holdings in shares of Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after acquiring an additional 1,920,916 shares during the last quarter. UBS Group AG grew its holdings in shares of Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after acquiring an additional 1,790,729 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after purchasing an additional 1,256,377 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Alkermes by 1,070.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock valued at $36,268,000 after purchasing an additional 1,105,666 shares during the period. 95.21% of the stock is owned by institutional investors and hedge funds.

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.