Alkermes (NASDAQ:ALKS) EVP Sells $150,000.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the transaction, the executive vice president owned 61,740 shares of the company’s stock, valued at $1,852,200. The trade was a 7.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alkermes Stock Up 0.2%

NASDAQ:ALKS opened at $29.66 on Friday. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.45. The stock’s fifty day moving average is $29.26 and its two-hundred day moving average is $29.05. The company has a market capitalization of $4.90 billion, a P/E ratio of 14.68 and a beta of 0.48.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.08. The firm had revenue of $394.19 million during the quarter, compared to the consensus estimate of $355.23 million. Alkermes had a return on equity of 21.81% and a net margin of 22.27%.The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.73 EPS. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. Sell-side analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkermes

Several institutional investors have recently modified their holdings of ALKS. Norges Bank acquired a new stake in shares of Alkermes in the second quarter valued at $53,326,000. Baker BROS. Advisors LP increased its holdings in Alkermes by 26.2% during the 3rd quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock worth $242,741,000 after purchasing an additional 1,680,748 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Alkermes by 1,070.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock valued at $36,268,000 after purchasing an additional 1,105,666 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Alkermes by 787.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,135,478 shares of the company’s stock valued at $32,486,000 after buying an additional 1,007,488 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Alkermes during the third quarter worth about $27,040,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Zacks Research lowered shares of Alkermes from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 20th. Mizuho boosted their target price on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Piper Sandler restated an “overweight” rating and set a $45.00 price target (up from $38.00) on shares of Alkermes in a research note on Thursday, October 23rd. Royal Bank Of Canada lifted their price objective on Alkermes from $45.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company cut their price objective on Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Alkermes Company Profile

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.