Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells 4,000 Shares of Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 4,000 shares of Alkermes stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $29.30, for a total transaction of $117,200.00. Following the completion of the sale, the executive vice president directly owned 65,740 shares in the company, valued at $1,926,182. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Alkermes Stock Performance

NASDAQ ALKS traded down $0.68 on Monday, hitting $28.90. 1,539,844 shares of the stock traded hands, compared to its average volume of 1,948,197. The business’s fifty day moving average is $30.32 and its two-hundred day moving average is $29.40. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.45. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.70 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $394.19 million for the quarter, compared to analysts’ expectations of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Wednesday, October 22nd. Needham & Company LLC lifted their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada boosted their target price on shares of Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Wells Fargo & Company cut their price target on Alkermes from $42.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 13th. Finally, Mizuho boosted their price objective on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.69.

Institutional Investors Weigh In On Alkermes

A number of institutional investors and hedge funds have recently bought and sold shares of ALKS. CIBC Bancorp USA Inc. bought a new stake in Alkermes during the third quarter valued at approximately $519,000. Centaurus Financial Inc. lifted its holdings in shares of Alkermes by 20.7% during the 3rd quarter. Centaurus Financial Inc. now owns 5,602 shares of the company’s stock worth $168,000 after acquiring an additional 960 shares during the last quarter. Danske Bank A S bought a new position in Alkermes in the third quarter valued at $1,004,000. XTX Topco Ltd bought a new stake in Alkermes during the third quarter worth about $1,339,000. Finally, Virtus Advisers LLC boosted its holdings in shares of Alkermes by 591.3% in the 3rd quarter. Virtus Advisers LLC now owns 47,708 shares of the company’s stock worth $1,431,000 after purchasing an additional 40,807 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

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.