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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total transaction of $319,590.00. Following the completion of the transaction, the executive vice president owned 85,389 shares of the company’s stock, valued at $3,032,163.39. This represents a 9.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Alkermes Stock Performance

Alkermes stock opened at $34.84 on Friday. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.48. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 8.69 and a beta of 0.44. The company’s 50-day moving average price is $31.42 and its two-hundred day moving average price is $30.37.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The company had revenue of $384.55 million during the quarter, compared to analyst estimates of $380.44 million. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The company’s revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. Research analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Institutional Trading of Alkermes

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Alkermes in the fourth quarter worth about $54,442,000. Baker BROS. Advisors LP raised its holdings in shares of Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after acquiring an additional 1,920,916 shares during the period. UBS Group AG raised its holdings in shares of Alkermes by 237.4% during the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock valued at $71,206,000 after acquiring an additional 1,790,729 shares during the period. JPMorgan Chase & Co. boosted its stake in Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after purchasing an additional 1,256,377 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Alkermes by 1,070.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock worth $36,268,000 after purchasing an additional 1,105,666 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analyst Ratings Changes

ALKS has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research report on Monday, December 29th. Piper Sandler cut their price objective on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Wells Fargo & Company raised their target price on Alkermes from $37.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Royal Bank Of Canada dropped their price target on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Bank of America upped their price target on shares of Alkermes from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.93.

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.