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

Alkermes plc (NASDAQ:ALKS) SVP Christian Todd Nichols sold 7,576 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president owned 102,193 shares of the company’s stock, valued at approximately $5,030,961.39. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Performance

Shares of Alkermes stock opened at $49.85 on Tuesday. The company has a market capitalization of $8.36 billion, a PE ratio of 131.19 and a beta of 0.34. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $55.67. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average is $50.12 and its two-hundred day moving average is $39.57.

Institutional Trading of Alkermes

A number of institutional investors and hedge funds have recently made changes to their positions in ALKS. Sanctuary Advisors LLC raised its position in Alkermes by 2.7% during the fourth quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock worth $340,000 after acquiring an additional 315 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Alkermes by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after purchasing an additional 351 shares during the period. Versant Capital Management Inc grew its position in shares of Alkermes by 33.9% in the second quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after purchasing an additional 366 shares during the period. Orion Porfolio Solutions LLC increased its stake in shares of Alkermes by 4.5% during the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after purchasing an additional 376 shares in the last quarter. Finally, Horizon Investments LLC increased its stake in shares of Alkermes by 0.9% during the third quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after purchasing an additional 387 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group increased their price target 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. Royal Bank Of Canada raised their target price on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Mizuho upped their price target on Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Bank of America reiterated an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. Finally, Robert W. Baird boosted their target price on Alkermes from $48.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price 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.