Alkermes (NASDAQ:ALKS) Director Christopher Wright Sells 2,000 Shares of Stock

Alkermes plc (NASDAQ:ALKS) Director Christopher Wright sold 2,000 shares of Alkermes stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the completion of the sale, the director directly owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Down 1.4%

ALKS opened at $44.28 on Friday. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $45.76. 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 company has a market cap of $7.38 billion, a P/E ratio of 49.20 and a beta of 0.38. The company has a fifty day moving average price of $37.10 and a two-hundred day moving average price of $32.71.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALKS. Assetmark Inc. grew its holdings in shares of Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after buying an additional 747 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in Alkermes during the fourth quarter worth about $28,000. Johnson Financial Group Inc. purchased a new position in Alkermes during the third quarter worth about $31,000. UMB Bank n.a. boosted its holdings in Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Truist Financial raised shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Royal Bank Of Canada lifted their price objective on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday. Needham & Company LLC lifted their price objective on shares of Alkermes from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Bank of America lifted their price objective on shares of Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Piper Sandler reduced their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.13.

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.