Alkermes (NASDAQ:ALKS) EVP Sells $273,420.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $30.38, for a total transaction of $273,420.00. Following the transaction, the executive vice president directly owned 69,740 shares in the company, valued at $2,118,701.20. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Alkermes Stock Performance

NASDAQ:ALKS opened at $31.07 on Thursday. The firm has a 50-day simple moving average of $29.67 and a 200-day simple moving average of $29.33. Alkermes plc has a one year low of $25.17 and a one year high of $36.45. The firm has a market cap of $5.13 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.70 and a beta of 0.53.

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, beating the consensus estimate of $0.41 by $0.08. The company had revenue of $394.19 million for the quarter, compared to analyst estimates of $355.23 million. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. Alkermes’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, research analysts predict that Alkermes plc will post 1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Twin Tree Management LP acquired a new stake in Alkermes in the 1st quarter worth approximately $29,000. Armstrong Advisory Group Inc. purchased a new position in shares of Alkermes in the second quarter worth $29,000. Brooklyn Investment Group raised its holdings in shares of Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after buying an additional 964 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after buying an additional 385 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings 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 buying an additional 989 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Alkermes from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. The Goldman Sachs Group assumed coverage on shares of Alkermes in a report on Tuesday, July 15th. They issued a “buy” rating and a $43.00 target price for the company. Royal Bank Of Canada increased 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. Zacks Research raised shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Mizuho increased their target price on shares of Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and an average target price of $44.83.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.