Alkermes (NASDAQ:ALKS) SVP Sells $372,966.48 in Stock

Key Points

• Alkermes SVP Christian Todd Nichols sold 7,576 shares at an average price of $49.23, generating $372,966.48. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 102,193 shares.
• ALKS shares rose 1.6% to $49.85, with the stock trading between a 52-week range of $25.17 and $55.67. The company has a market capitalization of approximately $8.36 billion.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $54.56; institutional investors own 95.21% of the company.

Alkermes plc (NASDAQ:ALKS - Get Free Report) SVP Christian Todd Nichols sold 7,576 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $49.23, for a total value of $372,966.48. Following the completion of the transaction, the senior vice president owned 102,193 shares in the company, valued at $5,030,961.39. This represents a 6.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Trading Up 1.6%

ALKS stock traded up $0.79 during midday trading on Monday, hitting $49.85. 763,840 shares of the company's stock were exchanged, compared to its average volume of 2,197,302. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $8.36 billion, a PE ratio of 131.19 and a beta of 0.34. The business has a 50-day simple moving average of $49.98 and a two-hundred day simple moving average of $39.45.

Analysts Set New Price Targets

Several analysts recently weighed in on ALKS shares. Bank of America reiterated an "underperform" rating on shares of Alkermes in a report on Monday, June 29th. Zacks Research upgraded Alkermes from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Alkermes in a research note on Friday, August 7th. Royal Bank Of Canada boosted their price objective on Alkermes from $45.00 to $56.00 and gave the company an "outperform" rating in a report on Tuesday, June 9th. Finally, Mizuho increased 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. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.56.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALKS. C M Bidwell & Associates Ltd. acquired a new stake in shares of Alkermes in the 2nd quarter valued at about $104,000. S&CO Inc. acquired a new position in Alkermes during the second quarter worth approximately $12,824,000. Hennion & Walsh Asset Management Inc. acquired a new position in Alkermes during the second quarter worth approximately $2,479,000. GAMMA Investing LLC lifted its stake in Alkermes by 24.5% in the second quarter. GAMMA Investing LLC now owns 6,705 shares of the company's stock valued at $351,000 after buying an additional 1,320 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in Alkermes in the second quarter valued at approximately $82,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source