Alkermes (NASDAQ:ALKS) SVP Sells $372,966.48 in Stock

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

Alkermes Price Performance

Alkermes stock opened at $50.18 on Thursday. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 132.06 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 stock’s 50 day moving average price is $50.35 and its two-hundred day moving average price is $39.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ALKS shares. Royal Bank Of Canada lifted their price target 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. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Piper Sandler restated an “overweight” rating and issued a $65.00 target price (up from $43.00) on shares of Alkermes in a research note on Tuesday, July 28th. TD Cowen boosted their target price on Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, UBS Group increased their price target on Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $54.56.

Hedge Funds Weigh In On Alkermes

Large investors have recently added to or reduced their stakes in the business. Profund Advisors LLC increased its stake in Alkermes by 80.9% in the 4th 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 last quarter. UBS Group AG boosted its stake in shares of Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after buying an additional 1,790,729 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Alkermes by 21.0% in the 4th quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock worth $10,926,000 after buying an additional 67,745 shares during the last quarter. Abacus FCF Advisors LLC bought a new position in shares of Alkermes in the fourth quarter valued at approximately $6,141,000. Finally, S&CO Inc. grew its holdings in shares of Alkermes by 21.3% in the first quarter. S&CO Inc. now owns 244,760 shares of the company’s stock valued at $8,654,000 after acquiring an additional 43,000 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

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.