Alkermes (NASDAQ:ALKS) EVP Sells $422,910.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $46.99, for a total value of $422,910.00. Following the sale, the executive vice president owned 65,389 shares in the company, valued at $3,072,629.11. This trade represents a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Performance

NASDAQ ALKS opened at $46.88 on Friday. The stock has a market capitalization of $7.86 billion, a price-to-earnings ratio of 123.37 and a beta of 0.31. The stock has a 50-day moving average of $50.74 and a 200 day moving average of $40.86. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $55.67.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System grew its position in shares of Alkermes by 5,527.7% in the second quarter. California State Teachers Retirement System now owns 10,343,402 shares of the company’s stock valued at $541,994,000 after purchasing an additional 10,159,607 shares in the last quarter. Norges Bank acquired a new position in Alkermes during the fourth quarter worth $54,442,000. Baker BROS. Advisors LP boosted its stake in Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after buying an additional 1,920,916 shares during the last quarter. UBS Group AG grew its holdings in Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock valued at $71,206,000 after buying an additional 1,790,729 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Alkermes by 104.2% in the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after buying an additional 1,514,783 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALKS has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. increased their price objective on shares of Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Royal Bank Of Canada lifted their target price on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, June 9th. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research note on Thursday, July 30th. Finally, TD Cowen upped their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.56.

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.