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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $51.51, for a total value of $463,590.00. Following the completion of the sale, the executive vice president owned 73,389 shares in the company, valued at $3,780,267.39. This trade represents a 10.92% 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

Alkermes stock opened at $54.58 on Friday. The firm has a market capitalization of $9.10 billion, a P/E ratio of 60.65 and a beta of 0.34. The stock has a fifty day moving average price of $41.30 and a two-hundred day moving average price of $34.71. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.28. 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 issued its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The company had revenue of $384.55 million for the quarter. As a group, analysts anticipate that Alkermes plc will post -0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Alkermes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. bought a new position in shares of Alkermes in the fourth quarter worth about $28,000. Johnson Financial Group Inc. bought a new stake in shares of Alkermes during the third quarter valued at approximately $31,000. UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 446 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Alkermes by 115.6% in the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after purchasing an additional 667 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alkermes by 1,041.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock valued at $37,000 after purchasing an additional 1,208 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th. Mizuho lifted their target price on shares of Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank Of Canada boosted their target price on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, June 9th. Bank of America restated an “underperform” rating on shares of Alkermes in a research report on Monday. Finally, UBS Group lifted their price objective on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $49.62.

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.