Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $300,600.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $33.40, for a total transaction of $300,600.00. Following the completion of the sale, the executive vice president directly owned 81,389 shares of the company’s stock, valued at approximately $2,718,392.60. This represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Price Performance

NASDAQ ALKS opened at $33.38 on Monday. The company’s 50 day simple moving average is $31.44 and its 200 day simple moving average is $30.95. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.48. The company has a market capitalization of $5.55 billion, a P/E ratio of 23.34 and a beta of 0.31.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The business had revenue of $384.55 million for the quarter. On average, analysts anticipate that Alkermes plc will post -0.69 earnings per share for the current year.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC raised its holdings in shares of Alkermes by 2.7% during the fourth quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after acquiring an additional 315 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Alkermes by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after acquiring an additional 351 shares during the period. Orion Porfolio Solutions LLC raised its holdings in shares of Alkermes by 4.5% during the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after acquiring an additional 376 shares during the period. Horizon Investments LLC raised its holdings in shares of Alkermes by 0.9% during the third quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after acquiring an additional 387 shares during the period. Finally, AMG National Trust Bank raised its holdings in shares of Alkermes by 0.6% during the third quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock valued at $1,805,000 after acquiring an additional 388 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 research firms recently commented on ALKS. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Bank of America boosted their target price on shares of Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Royal Bank Of Canada dropped their target price on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Wolfe Research began coverage on shares of Alkermes in a report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.29.

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.