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 on Monday, June 1st. The shares were sold at an average price of $41.67, for a total value of $375,030.00. Following the completion of the sale, the executive vice president owned 77,389 shares in the company, valued at $3,224,799.63. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $42.27 on Tuesday. The business’s fifty day moving average price is $34.77 and its two-hundred day moving average price is $31.86. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $42.83. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of 46.97 and a beta of 0.38. 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 announced its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The firm had revenue of $384.55 million for the quarter. As a group, analysts predict that Alkermes plc will post -0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Alkermes

Several large investors have recently made changes to their positions in the company. American Century Companies Inc. lifted its stake in Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after buying an additional 740,248 shares during the period. Victory Capital Management Inc. lifted its stake in Alkermes by 43.1% in the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock valued at $10,326,000 after buying an additional 103,749 shares during the period. Public Sector Pension Investment Board lifted its stake in Alkermes by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock valued at $21,321,000 after buying an additional 73,787 shares during the period. Tudor Investment Corp ET AL acquired a new position in Alkermes in the third quarter valued at about $1,691,000. Finally, Artisan Partners Limited Partnership lifted its stake in Alkermes by 36.8% in the third quarter. Artisan Partners Limited Partnership now owns 2,109,772 shares of the company’s stock valued at $63,293,000 after buying an additional 567,965 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Needham & Company LLC boosted their price objective on Alkermes from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. HC Wainwright reissued a “neutral” rating and issued a $43.00 price objective on shares of Alkermes in a research note on Thursday, February 26th. Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Bank of America boosted their price objective on Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and a consensus target price of $45.40.

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.