Alkermes plc (NASDAQ:ALKS) EVP Sells $3,234,421.90 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the transaction, the executive vice president now owns 44,290 shares of the company’s stock, valued at $1,419,494.50. This represents a 69.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Alkermes Price Performance

Alkermes stock opened at $31.53 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The business has a 50 day simple moving average of $29.87 and a 200-day simple moving average of $28.35. Alkermes plc has a 12 month low of $22.90 and a 12 month high of $32.88. The stock has a market capitalization of $5.10 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.68 and a beta of 0.49.

Institutional Trading of Alkermes

Hedge funds have recently made changes to their positions in the company. Centiva Capital LP purchased a new position in Alkermes during the third quarter worth about $367,000. Natixis Advisors LLC raised its stake in shares of Alkermes by 190.3% during the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after buying an additional 23,921 shares in the last quarter. Vontobel Holding Ltd. raised its stake in shares of Alkermes by 128.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company’s stock worth $1,575,000 after buying an additional 31,687 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of Alkermes by 254.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock valued at $944,000 after buying an additional 23,541 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Alkermes by 10.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 244,857 shares of the company’s stock valued at $5,901,000 after buying an additional 23,600 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALKS. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group dropped their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Finally, Mizuho increased their target price on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average target price of $36.00.

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.