Insider Selling: Alkermes plc (NASDAQ:ALKS) SVP Sells 25,000 Shares of Stock

Alkermes plc (NASDAQ:ALKSGet Rating) SVP Michael J. Landine sold 25,000 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $28.62, for a total value of $715,500.00. Following the completion of the transaction, the senior vice president now owns 232,306 shares in the company, valued at $6,648,597.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Alkermes stock opened at $29.00 on Wednesday. Alkermes plc has a 1 year low of $21.17 and a 1 year high of $33.00. The firm has a market cap of $4.74 billion, a PE ratio of -76.32 and a beta of 0.75. The stock has a fifty day moving average price of $26.97 and a 200-day moving average price of $25.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.19 and a quick ratio of 1.86.

Alkermes (NASDAQ:ALKSGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.11. Alkermes had a positive return on equity of 3.87% and a negative net margin of 5.13%. The company had revenue of $278.55 million during the quarter, compared to analyst estimates of $256.02 million. During the same quarter last year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Alkermes plc will post -0.63 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its holdings in Alkermes by 100.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $26,000 after acquiring an additional 500 shares during the last quarter. Credit Agricole S A purchased a new stake in Alkermes in the 4th quarter worth about $35,000. UMB Bank N A MO purchased a new stake in Alkermes in the 4th quarter worth about $47,000. SouthState Corp bought a new position in Alkermes in the 3rd quarter worth about $77,000. Finally, Altshuler Shaham Ltd boosted its stake in Alkermes by 130.9% in the 3rd quarter. Altshuler Shaham Ltd now owns 4,069 shares of the company’s stock worth $126,000 after purchasing an additional 2,307 shares during the period. 98.93% of the stock is owned by institutional investors.

A number of equities analysts recently issued reports on ALKS shares. Stifel Nicolaus increased their target price on Alkermes from $24.00 to $27.00 in a report on Wednesday, April 27th. Cantor Fitzgerald raised Alkermes from a “hold” rating to an “overweight” rating and set a $32.00 price target for the company in a research report on Thursday, January 27th. SVB Leerink increased their price target on Alkermes from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Thursday, April 21st. Zacks Investment Research raised Alkermes from a “hold” rating to a “strong-buy” rating and set a $33.00 price target for the company in a research report on Monday, April 25th. Finally, Citigroup increased their price target on Alkermes from $22.00 to $26.00 and gave the company a “neutral” rating in a research report on Tuesday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $30.90.

Alkermes Company Profile (Get Rating)

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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