Alkermes (NASDAQ:ALKS) EVP Sells $300,600.00 in Stock

Key Points

• Alkermes EVP Craig Hopkinson sold 9,000 shares on May 1 at an average price of $33.40 for a total of $300,600 under a pre-arranged Rule 10b5-1 plan, reducing his direct stake to 81,389 shares (~$2.72M), a ~9.96% drop.
• Shares traded down about 1.0% to $33.38 with a market capitalization of $5.55B, a P/E of 23.34, and 50-/200-day moving averages of $31.44/$30.96.
• Analysts have a consensus rating of "Moderate Buy" with a $44.07 target, and institutional investors own roughly 95.21% of the company, including recent large positions by Norges Bank and Baker Bros.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP Craig Hopkinson sold 9,000 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $33.40, for a total transaction of $300,600.00. Following the sale, the executive vice president directly owned 81,389 shares of the company's stock, valued at approximately $2,718,392.60. This trade represents a 9.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Down 1.0%

NASDAQ:ALKS traded down $0.33 during mid-day trading on Friday, hitting $33.38. The company had a trading volume of 1,193,223 shares, compared to its average volume of 1,729,533. The business has a fifty day simple moving average of $31.44 and a 200-day simple moving average of $30.96. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 23.34 and a beta of 0.31. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $36.48.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its 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 14.91% and a net margin of 16.37%. As a group, research analysts anticipate that Alkermes plc will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ALKS shares. HC Wainwright restated a "neutral" rating and issued a $43.00 target price on shares of Alkermes in a research note on Thursday, February 26th. Bank of America boosted their price objective on shares of Alkermes from $34.00 to $36.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Truist Financial raised shares of Alkermes to a "strong-buy" rating in a research report on Wednesday, March 25th. Zacks Research upgraded Alkermes from a "strong sell" rating to a "hold" rating in a research note on Monday. Finally, Piper Sandler dropped their target price on Alkermes from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Alkermes presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.07.

Institutional Trading of Alkermes

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Alkermes during the 4th quarter valued at $54,442,000. Baker BROS. Advisors LP grew its position 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. UBS Group AG raised its position in shares of Alkermes by 237.4% during the 4th 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in Alkermes by 32.0% during the fourth 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 last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Alkermes by 1,070.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company's stock valued at $36,268,000 after purchasing an additional 1,105,666 shares during the last quarter. Institutional investors own 95.21% of the company's stock.

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.

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