Alkermes (NASDAQ:ALKS) EVP Sells $437,220.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $48.58, for a total transaction of $437,220.00. Following the completion of the sale, the executive vice president owned 69,389 shares in the company, valued at $3,370,917.62. This represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Down 0.1%

NASDAQ ALKS opened at $49.61 on Thursday. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $55.67. The company has a 50 day moving average price of $48.97 and a 200 day moving average price of $38.64. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. The firm has a market cap of $8.32 billion, a PE ratio of 130.56 and a beta of 0.34.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Needham & Company LLC upped their target price on Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Wells Fargo & Company upped their price objective on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research report on Thursday, July 30th. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Mizuho boosted their target price on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.56.

Institutional Trading of Alkermes

Large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after acquiring an additional 315 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Alkermes by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after purchasing an additional 351 shares in the last quarter. Versant Capital Management Inc lifted its stake in Alkermes by 33.9% in the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock worth $76,000 after purchasing an additional 366 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after purchasing an additional 376 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in shares of Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after purchasing an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

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.