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

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

Alkermes Price Performance

Shares of NASDAQ ALKS traded up $0.21 during trading hours on Tuesday, hitting $47.20. 1,351,259 shares of the stock were exchanged, compared to its average volume of 1,338,062. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67. The company has a market cap of $7.92 billion, a PE ratio of 124.21 and a beta of 0.31. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. The company’s fifty day simple moving average is $50.91 and its two-hundred day simple moving average is $40.66.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALKS. California State Teachers Retirement System boosted its holdings in 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 worth $541,994,000 after acquiring an additional 10,159,607 shares during the last quarter. Baker BROS. Advisors LP grew 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 raised its holdings in shares of Alkermes by 10.9% in the fourth quarter. State Street Corp now owns 9,472,858 shares of the company’s stock valued at $265,051,000 after purchasing an additional 932,507 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Alkermes by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock valued at $186,571,000 after purchasing an additional 375,500 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after purchasing an additional 1,256,377 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALKS shares. Needham & Company LLC raised their price target on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Piper Sandler reiterated an “overweight” rating and set a $65.00 price target (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. TD Cowen boosted their price objective on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Royal Bank Of Canada raised their target price on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. boosted their price target on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.