Alkermes plc (NASDAQ:ALKS) EVP Sells $1,961,112.57 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson sold 61,151 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $32.07, for a total value of $1,961,112.57. Following the transaction, the executive vice president now owns 47,576 shares in the company, valued at approximately $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Alkermes Stock Performance

NASDAQ:ALKS opened at $30.60 on Wednesday. The business has a 50 day moving average of $28.39 and a 200 day moving average of $26.82. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.05 and a beta of 0.49. Alkermes plc has a 1-year low of $22.90 and a 1-year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03.

Analysts Set New Price Targets

Several brokerages have weighed in on ALKS. The Goldman Sachs Group dropped their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Finally, Cantor Fitzgerald cut their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.42.

Institutional Trading of Alkermes

A number of hedge funds have recently bought and sold shares of ALKS. Armistice Capital LLC lifted its position in Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after purchasing an additional 2,026,961 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Alkermes by 365.5% during the third quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock valued at $52,704,000 after buying an additional 1,478,422 shares during the period. Pacer Advisors Inc. grew its stake in Alkermes by 31.8% in the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after purchasing an additional 1,362,079 shares during the period. American Century Companies Inc. grew its stake in Alkermes by 87.1% in the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after purchasing an additional 1,025,905 shares during the period. Finally, Frazier Life Sciences Management L.P. purchased a new stake in Alkermes in the third quarter worth $16,126,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.