Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $463,590.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total transaction of $463,590.00. Following the completion of the transaction, the executive vice president directly owned 73,389 shares in the company, valued at approximately $3,780,267.39. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Performance

Shares of ALKS opened at $54.58 on Friday. The stock has a market capitalization of $9.10 billion, a P/E ratio of 60.65 and a beta of 0.34. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $41.71 and a two-hundred day simple moving average of $34.85. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $55.28.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) 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 for the quarter. On average, research analysts anticipate that Alkermes plc will post -0.43 EPS for the current year.

Hedge Funds Weigh In On Alkermes

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Alkermes by 43.1% during the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock valued at $10,326,000 after purchasing an additional 103,749 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Alkermes in the third quarter worth $1,691,000. Profund Advisors LLC lifted its position in Alkermes by 80.9% during the fourth quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock valued at $2,256,000 after buying an additional 36,067 shares during the period. Fisher Asset Management LLC lifted its position in Alkermes by 21.0% during the fourth quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after buying an additional 67,745 shares during the period. Finally, Abacus FCF Advisors LLC bought a new stake in shares of Alkermes during the 4th quarter valued at $6,141,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALKS. Royal Bank Of Canada boosted their price target on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, June 9th. TD Cowen increased their price objective on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Needham & Company LLC lifted their price objective on Alkermes from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. UBS Group boosted their target price on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $49.62.

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.