Nancy Lynn Md Snyderman Sells 44,472 Shares of Alkermes (NASDAQ:ALKS) Stock

Alkermes plc (NASDAQ:ALKS) Director Nancy Lynn Md Snyderman sold 44,472 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $50.35, for a total value of $2,239,165.20. Following the completion of the transaction, the director directly owned 15,395 shares in the company, valued at $775,138.25. The trade was a 74.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Alkermes Stock Performance

NASDAQ:ALKS opened at $49.67 on Wednesday. The stock has a market cap of $8.33 billion, a P/E ratio of 130.71 and a beta of 0.34. The stock has a 50 day simple moving average of $48.74 and a 200 day simple moving average of $38.51. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. bought a new stake in shares of Alkermes during the 4th quarter worth $28,000. Johnson Financial Group Inc. bought a new position in Alkermes in the third quarter valued at about $31,000. UMB Bank n.a. raised its stake 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 acquiring an additional 446 shares in the last quarter. Salomon & Ludwin LLC raised its stake 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 acquiring an additional 667 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Alkermes by 1,041.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock worth $37,000 after acquiring an additional 1,208 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Trending Headlines about Alkermes

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Analysts maintain a generally favorable view of Alkermes, with the stock receiving a consensus rating of “Moderate Buy.” The broader analyst coverage includes several Buy or Overweight ratings, supporting investor confidence in the company’s outlook. Alkermes Receives Consensus Recommendation of Moderate Buy
• Neutral Sentiment: HC Wainwright issued an estimate for Alkermes’ third-quarter earnings, giving investors another reference point ahead of the results. The specific forecast was not provided, so the direct earnings implication remains unclear. HC Wainwright Estimates Alkermes’ Q3 Earnings
• Negative Sentiment: Director Nancy Lynn Md Snyderman sold 44,472 ALKS shares for approximately $2.24 million, reducing her direct ownership by about 74%. The unusually large reduction may weigh on sentiment, although insider selling does not necessarily indicate a deteriorating business outlook. SEC insider transaction filing
• Negative Sentiment: EVP Craig C. Hopkinson sold 9,000 shares valued at roughly $437,000, cutting his holdings by 11.48%. EVP David Joseph Gaffin also sold 2,034 shares for about $99,000, reducing his position by 0.89%. Both executive transactions were conducted under pre-arranged Rule 10b5-1 plans, which limits their value as discretionary bearish signals. Craig Hopkinson SEC insider transaction filing David Gaffin SEC insider transaction filing

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALKS. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Royal Bank Of Canada raised their price target on shares of Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $63.00 price objective (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price objective (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and an average target price of $54.56.

Alkermes Company Profile

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.