Insider Selling: Alkermes plc (NASDAQ:ALKS) SVP Sells 3,334 Shares of Stock

Alkermes plc (NASDAQ:ALKS - Get Free Report) SVP Christian Todd Nichols sold 3,334 shares of Alkermes stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.09, for a total transaction of $103,654.06. Following the completion of the sale, the senior vice president now owns 86,208 shares of the company's stock, valued at $2,680,206.72. This trade represents a 3.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Christian Todd Nichols also recently made the following trade(s):

• On Monday, June 9th, Christian Todd Nichols sold 3,333 shares of Alkermes stock. The shares were sold at an average price of $31.95, for a total transaction of $106,489.35.

Alkermes Trading Down 3.1%

NASDAQ:ALKS traded down $0.95 during trading hours on Friday, reaching $29.83. 2,207,105 shares of the company were exchanged, compared to its average volume of 1,734,585. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $36.45. The firm has a market cap of $4.92 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 2.20 and a beta of 0.47. The stock's 50-day moving average is $29.63 and its 200-day moving average is $31.02.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.19). Alkermes had a return on equity of 30.80% and a net margin of 23.57%. The business had revenue of $306.51 million for the quarter, compared to analysts' expectations of $307.53 million. During the same period in the previous year, the company earned $0.43 EPS. Alkermes's quarterly revenue was down 12.6% compared to the same quarter last year. As a group, research analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of Alkermes by 488.6% in the first quarter. JPMorgan Chase & Co. now owns 5,234,995 shares of the company's stock valued at $172,860,000 after purchasing an additional 4,345,523 shares during the period. Avoro Capital Advisors LLC purchased a new stake in shares of Alkermes in the fourth quarter valued at about $70,462,000. Nuveen LLC purchased a new stake in shares of Alkermes in the first quarter valued at about $66,689,000. Norges Bank purchased a new stake in shares of Alkermes in the fourth quarter valued at about $56,684,000. Finally, RTW Investments LP grew its holdings in shares of Alkermes by 13.6% in the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company's stock valued at $217,363,000 after purchasing an additional 903,802 shares during the period. Hedge funds and other institutional investors own 95.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen cut shares of Alkermes from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Alkermes from $40.00 to $52.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. The Goldman Sachs Group boosted their target price on shares of Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, February 14th. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research note on Friday, May 2nd. Finally, Royal Bank of Canada boosted their target price on shares of Alkermes from $39.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.85.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.