Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson Sells 58,996 Shares of Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the sale, the executive vice president now owns 83,300 shares of the company’s stock, valued at $2,505,664. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Alkermes Stock Performance

NASDAQ:ALKS opened at $29.23 on Wednesday. The firm has a market capitalization of $4.73 billion, a PE ratio of 14.99, a PEG ratio of 0.96 and a beta of 0.47. Alkermes plc has a 1 year low of $22.06 and a 1 year high of $32.88. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $27.69 and its 200 day simple moving average is $26.13.

Hedge Funds Weigh In On Alkermes

A number of institutional investors have recently made changes to their positions in ALKS. Sei Investments Co. grew its holdings in Alkermes by 10.1% in the 1st quarter. Sei Investments Co. now owns 77,942 shares of the company’s stock valued at $2,110,000 after buying an additional 7,178 shares during the last quarter. ProShare Advisors LLC increased its position in Alkermes by 8.0% during the first quarter. ProShare Advisors LLC now owns 45,172 shares of the company’s stock worth $1,223,000 after acquiring an additional 3,350 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Alkermes by 9.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company’s stock valued at $1,459,000 after purchasing an additional 4,410 shares during the last quarter. Foundry Partners LLC bought a new stake in Alkermes in the 1st quarter valued at $3,857,000. Finally, Acadian Asset Management LLC grew its position in Alkermes by 70.6% in the 1st quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock worth $697,000 after purchasing an additional 10,671 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALKS has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and boosted their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Cantor Fitzgerald cut their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group lowered their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.