Alkermes (NASDAQ:ALKS) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Alkermes shares rose above their 200-day moving average, reaching $49.35 and closing near $49.16, compared with a 200-day average of $40.30.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $54.56; recent targets range from $50 to $65.
• Insiders sold 87,150 shares worth about $4.27 million over the past three months, while institutional investors hold a substantial 95.21% of the company’s stock.

Shares of Alkermes plc (NASDAQ:ALKS - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $40.30 and traded as high as $49.35. Alkermes shares last traded at $49.16, with a volume of 660,776 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALKS. Needham & Company LLC boosted their price target on Alkermes from $61.00 to $62.00 and gave the company a "buy" rating in a research note on Monday, July 13th. TD Cowen raised their price objective on shares of Alkermes from $42.00 to $50.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Bank of America reiterated an "underperform" rating on shares of Alkermes in a research note on Monday, June 29th. Mizuho boosted their target price on shares of Alkermes from $53.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, July 2nd. Finally, Robert W. Baird increased their target price on shares of Alkermes from $48.00 to $58.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. One equities research 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and an average price target of $54.56.

Alkermes Price Performance

The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 129.37 and a beta of 0.34. The business's fifty day moving average price is $50.78 and its 200-day moving average price is $40.30. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $48.58, for a total transaction of $98,811.72. Following the completion of the transaction, the executive vice president owned 225,456 shares in the company, valued at approximately $10,952,652.48. The trade was a 0.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total value of $437,220.00. Following the sale, the executive vice president directly owned 69,389 shares of the company's stock, valued at $3,370,917.62. This represents a 11.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 87,150 shares of company stock worth $4,274,444. 4.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

Several institutional investors have recently bought and sold shares of ALKS. Cullen Frost Bankers Inc. purchased a new stake in Alkermes in the 4th quarter valued at $28,000. Johnson Financial Group Inc. purchased a new position in Alkermes during the 3rd quarter worth $31,000. UMB Bank n.a. boosted its holdings in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company's stock worth $34,000 after acquiring an additional 446 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Alkermes by 1,041.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company's stock worth $37,000 after acquiring an additional 1,208 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Alkermes in the 2nd quarter worth $39,000. 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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