Christian Todd Nichols Sells 3,334 Shares of Alkermes plc (NASDAQ:ALKS) Stock

Alkermes plc (NASDAQ:ALKS) SVP Christian Todd Nichols sold 3,334 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the transaction, the senior vice president now owns 86,208 shares in the company, valued at approximately $2,680,206.72. This trade represents a 3.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Christian Todd Nichols also recently made the following trade(s):

• On Monday, June 9th, Christian Todd Nichols sold 3,333 shares of Alkermes stock. The stock was sold at an average price of $31.95, for a total transaction of $106,489.35.

Alkermes Price Performance

Shares of Alkermes stock opened at $31.06 on Wednesday. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The firm has a fifty day moving average price of $29.58 and a two-hundred day moving average price of $31.00. The company has a market cap of $5.12 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The company had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. During the same period last year, the company earned $0.43 earnings per share. Alkermes’s revenue for the quarter was down 12.6% on a year-over-year basis. Analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALKS has been the topic of several analyst reports. Wall Street Zen lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. UBS Group reaffirmed a “sector perform” rating on shares of Alkermes in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Robert W. Baird upped their price objective on shares of Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $38.85.

Hedge Funds Weigh In On Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in ALKS. JPMorgan Chase & Co. lifted its holdings in shares of Alkermes by 488.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company’s stock worth $172,860,000 after acquiring an additional 4,345,523 shares during the period. Avoro Capital Advisors LLC bought a new position in shares of Alkermes during the 4th quarter worth about $70,462,000. Nuveen LLC bought a new position in shares of Alkermes during the 1st quarter worth about $66,689,000. Norges Bank bought a new position in shares of Alkermes during the 4th quarter worth about $56,684,000. Finally, RTW Investments LP lifted its holdings in shares of Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock worth $217,363,000 after acquiring an additional 903,802 shares during the period. 95.21% of the stock is owned by institutional investors.

About Alkermes

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.