Alkermes (NASDAQ:ALKS) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares of Alkermes crossed above their 200-day moving average
• Analysts show a generally positive view with a consensus rating of “Moderate Buy” and an average target price of $44.07; analyst views range from 2 Strong Buy and 11 Buy ratings to 4 Hold and 1 Sell.
• Insiders have been net sellers recently, offloading 159,468 shares worth about $5.43 million over the past three months, while insiders still own 4.40% of the company and institutions own 95.21%.

Shares of Alkermes plc (NASDAQ:ALKS - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.88 and traded as high as $34.16. Alkermes shares last traded at $33.91, with a volume of 1,109,410 shares trading hands.

Analysts Set New Price Targets

ALKS has been the subject of a number of research analyst reports. Wolfe Research assumed coverage on Alkermes in a report on Monday, February 23rd. They issued an "outperform" rating and a $45.00 target price for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Alkermes in a report on Monday, December 29th. Zacks Research cut Alkermes from a "hold" rating to a "strong sell" rating in a research report on Friday, March 20th. Wall Street Zen downgraded Alkermes from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Finally, Truist Financial raised Alkermes to a "strong-buy" rating in a research report on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alkermes presently has a consensus rating of "Moderate Buy" and an average target price of $44.07.

Alkermes Price Performance

The firm has a market capitalization of $5.64 billion, a PE ratio of 23.71 and a beta of 0.44. The firm has a 50-day simple moving average of $31.34 and a 200-day simple moving average of $30.88.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The firm had revenue of $384.55 million during the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. Equities analysts expect that Alkermes plc will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 9,000 shares of Alkermes stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total transaction of $319,590.00. Following the transaction, the executive vice president owned 85,389 shares in the company, valued at $3,032,163.39. This trade represents a 9.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Shane Cooke sold 61,200 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the sale, the director directly owned 103,744 shares of the company's stock, valued at approximately $3,586,430.08. The trade was a 37.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,468 shares of company stock valued at $5,433,699 over the last three months. Insiders own 4.40% of the company's stock.

Institutional Trading of Alkermes

Several hedge funds have recently bought and sold shares of ALKS. Assetmark Inc. grew its stake in shares of Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company's stock valued at $25,000 after acquiring an additional 747 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Alkermes during the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. purchased a new position in Alkermes during the third quarter valued at approximately $31,000. UMB Bank n.a. lifted its holdings in Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company's stock valued at $34,000 after purchasing an additional 446 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Alkermes by 395.6% in the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company's stock worth $37,000 after purchasing an additional 989 shares during the period. 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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