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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $41.67, for a total transaction of $375,030.00. Following the completion of the transaction, the executive vice president owned 77,389 shares in the company, valued at approximately $3,224,799.63. The trade was a 10.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Down 2.2%

NASDAQ ALKS opened at $41.32 on Wednesday. The company’s 50-day moving average price is $34.77 and its 200-day moving average price is $31.86. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The stock has a market cap of $6.89 billion, a PE ratio of 45.91 and a beta of 0.38. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $42.83.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The company had revenue of $384.55 million for the quarter. Equities research analysts forecast that Alkermes plc will post -0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. UBS Group increased their target price on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. HC Wainwright reiterated a “neutral” rating and set a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Finally, Weiss Ratings lowered shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.40.

Institutional Trading of Alkermes

Several hedge funds have recently modified their holdings of ALKS. Norges Bank purchased a new stake in shares of Alkermes during the fourth quarter valued at about $54,442,000. Baker BROS. Advisors LP lifted its position in shares of Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after buying an additional 1,920,916 shares during the last quarter. UBS Group AG lifted its position in shares of Alkermes by 237.4% during the fourth 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 during the last quarter. First Trust Advisors LP lifted its position in shares of Alkermes by 104.2% during the first 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 during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after buying an additional 1,256,377 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

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.