Craig Hopkinson Sells 9,000 Shares of Alkermes (NASDAQ:ALKS) Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $35.51, for a total transaction of $319,590.00. Following the transaction, the executive vice president owned 85,389 shares of the company’s stock, valued at $3,032,163.39. This trade represents a 9.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alkermes Price Performance

Shares of Alkermes stock traded down $0.06 during trading on Thursday, hitting $34.99. 415,871 shares of the stock were exchanged, compared to its average volume of 2,341,136. The firm’s 50-day moving average price is $31.38 and its 200 day moving average price is $30.28. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 8.82 and a beta of 0.44. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.48.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The business had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $380.44 million. During the same period last year, the company earned $1.05 EPS. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. As a group, research analysts forecast that Alkermes plc will post 1.31 earnings per share for the current year.

Hedge Funds Weigh In On Alkermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. Royal Bank of Canada boosted its stake in shares of Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock valued at $9,098,000 after buying an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes during the 1st quarter worth $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Alkermes by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock worth $15,927,000 after purchasing an additional 20,091 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Alkermes by 32.3% in the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock valued at $398,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new position in shares of Alkermes in the 2nd quarter valued at about $1,142,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALKS. Wells Fargo & Company upped their target price on Alkermes from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Wolfe Research assumed coverage on shares of Alkermes in a report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Zacks Research cut Alkermes from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. Finally, Wall Street Zen cut Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average target price of $43.93.

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.