Alkermes (NASDAQ:ALKS) EVP Sells 9,000 Shares

Key Points

• Alkermes EVP Craig Hopkinson sold 9,000 shares at an average price of $48.58, generating $437,220. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his direct holdings by 11.48% to 69,389 shares.
• Alkermes shares traded at $49.53, giving the company an $8.31 billion market capitalization. The stock has risen significantly from its one-year low of $25.17 and remains below its $55.67 high.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $54.56. Institutional investors own 95.21% of the company, with several major funds recently increasing their positions.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP Craig Hopkinson sold 9,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total transaction of $437,220.00. Following the sale, the executive vice president directly owned 69,389 shares of the company's stock, valued at approximately $3,370,917.62. This represents a 11.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Performance

ALKS traded up $0.54 during trading on Monday, hitting $49.53. The company's stock had a trading volume of 1,835,722 shares, compared to its average volume of 1,802,994. The business's 50 day simple moving average is $48.49 and its 200-day simple moving average is $38.38. The firm has a market cap of $8.31 billion, a PE ratio of 130.35 and a beta of 0.34. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82.

Analyst Upgrades and Downgrades

A number of analysts have commented on ALKS shares. Robert W. Baird upped their price target on Alkermes from $48.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Mizuho boosted their price objective on Alkermes from $53.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, July 2nd. TD Cowen increased their target price on shares of Alkermes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Royal Bank Of Canada raised their target price on shares of Alkermes from $45.00 to $56.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 9th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and set a $63.00 price target (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $54.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Alkermes during the 4th quarter valued at about $54,442,000. Baker BROS. Advisors LP increased its stake in Alkermes by 23.7% during the fourth 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 during the last quarter. UBS Group AG raised its position in 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 purchasing an additional 1,790,729 shares during the period. First Trust Advisors LP raised its position in Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company's stock valued at $104,976,000 after purchasing an additional 1,514,783 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Alkermes by 32.0% in the 4th 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 during 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.

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