Christopher Wright Sells 2,000 Shares of Alkermes (NASDAQ:ALKS) Stock

Alkermes plc (NASDAQ:ALKS) Director Christopher Wright sold 2,000 shares of Alkermes stock in a transaction on Friday, June 12th. The shares were sold at an average price of $45.10, for a total value of $90,200.00. Following the completion of the transaction, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $44.28 on Friday. The stock has a market cap of $7.38 billion, a PE ratio of 49.20 and a beta of 0.38. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $45.76. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. The stock has a fifty day moving average of $37.10 and a 200-day moving average of $32.71.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The company had revenue of $384.55 million during the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. Equities research analysts anticipate that Alkermes plc will post -0.43 earnings per share for the current year.

Institutional Investors Weigh In On Alkermes

Several hedge funds have recently added to or reduced their stakes in ALKS. Assetmark Inc. lifted its stake in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after purchasing an additional 747 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Alkermes in the 4th quarter valued at about $28,000. Johnson Financial Group Inc. bought a new stake in shares of Alkermes in the 3rd quarter valued at about $31,000. UMB Bank n.a. lifted its stake in shares of Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after acquiring an additional 446 shares during the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in shares of Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after acquiring an additional 667 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALKS shares. Piper Sandler reduced their price target on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, March 24th. Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Bank of America boosted their target price on Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Truist Financial upgraded Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Wolfe Research initiated coverage on Alkermes in a research report on Monday, February 23rd. They set an “outperform” rating and a $45.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.13.

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.