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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $30.38, for a total transaction of $273,420.00. Following the completion of the transaction, the executive vice president owned 69,740 shares in the company, valued at approximately $2,118,701.20. This trade represents a 11.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alkermes Trading Up 0.7%

Shares of ALKS stock opened at $30.39 on Wednesday. The company’s fifty day simple moving average is $29.63 and its 200-day simple moving average is $29.32. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.45. The company has a market cap of $5.02 billion, a PE ratio of 15.04, a P/E/G ratio of 1.70 and a beta of 0.54.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.08. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The business had revenue of $394.19 million for the quarter, compared to the consensus estimate of $355.23 million. During the same quarter last year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Equities research analysts expect that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALKS. Jefferies Financial Group set a $56.00 target price on shares of Alkermes and gave the company a “buy” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. raised their target price on shares of Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price target (up previously from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Zacks Research raised shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.83.

Institutional Investors Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Twin Tree Management LP acquired a new stake in shares of Alkermes in the 1st quarter valued at about $29,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Alkermes in the 2nd quarter valued at about $29,000. Brooklyn Investment Group raised its stake in shares of Alkermes by 1,071.1% in the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after purchasing an additional 964 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Alkermes by 54.5% in the 1st quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock valued at $36,000 after purchasing an additional 385 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Alkermes in the 2nd quarter valued at about $49,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.