Christian Todd Nichols Sells 7,576 Shares of Alkermes (NASDAQ:ALKS) Stock

Alkermes plc (NASDAQ:ALKS) SVP Christian Todd Nichols sold 7,576 shares of Alkermes stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $49.23, for a total value of $372,966.48. Following the sale, the senior vice president directly owned 102,193 shares in the company, valued at $5,030,961.39. The trade was a 6.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Performance

Shares of NASDAQ ALKS opened at $49.48 on Wednesday. The business has a fifty day simple moving average of $50.23 and a 200 day simple moving average of $39.68. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 130.21 and a beta of 0.34. Alkermes plc has a one year low of $25.17 and a one year high of $55.67.

Analysts Set New Price Targets

ALKS has been the subject of a number of analyst reports. Bank of America reaffirmed an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. Piper Sandler reissued an “overweight” rating and issued a $65.00 price target (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. Needham & Company LLC raised their price target on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Wells Fargo & Company lifted their price objective on Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alkermes in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $54.56.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently made changes to their positions in the company. Baker BROS. Advisors LP grew its stake in Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after buying an additional 1,920,916 shares during the last quarter. State Street Corp raised its stake in shares of Alkermes by 10.9% in the fourth quarter. State Street Corp now owns 9,472,858 shares of the company’s stock valued at $265,051,000 after acquiring an additional 932,507 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Alkermes by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock valued at $186,571,000 after acquiring an additional 375,500 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after acquiring an additional 1,256,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Alkermes by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock worth $159,850,000 after acquiring an additional 109,595 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.