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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $46.99, for a total value of $422,910.00. Following the transaction, the executive vice president directly owned 65,389 shares of the company’s stock, valued at $3,072,629.11. The trade was a 12.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Price Performance

Shares of ALKS stock opened at $47.20 on Wednesday. The firm has a market cap of $7.92 billion, a P/E ratio of 124.21 and a beta of 0.31. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $55.67. The business’s 50 day moving average price is $50.91 and its 200-day moving average price is $40.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30.

Hedge Funds Weigh In On Alkermes

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in shares of Alkermes by 5,527.7% during the 2nd quarter. California State Teachers Retirement System now owns 10,343,402 shares of the company’s stock valued at $541,994,000 after buying an additional 10,159,607 shares in the last quarter. Baker BROS. Advisors LP increased its stake in shares of Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after acquiring an additional 1,920,916 shares in the last quarter. State Street Corp increased its stake in shares of Alkermes by 10.9% in the 4th quarter. State Street Corp now owns 9,472,858 shares of the company’s stock worth $265,051,000 after acquiring an additional 932,507 shares in the last quarter. Renaissance Technologies LLC lifted its position in Alkermes by 6.0% during the 4th 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 period. Finally, JPMorgan Chase & Co. lifted its position in Alkermes by 32.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after acquiring an additional 1,256,377 shares during the period. Institutional investors own 95.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. TD Cowen lifted their target price on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. boosted their price target on shares of Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada increased their price target on shares of Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Finally, Needham & Company LLC raised their price objective on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, July 13th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.56.

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.