Alkermes (NASDAQ:ALKS) EVP Sells $319,590.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $35.51, for a total transaction of $319,590.00. Following the completion of the sale, the executive vice president directly owned 85,389 shares of the company’s stock, valued at $3,032,163.39. This represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alkermes Stock Performance

Shares of NASDAQ:ALKS opened at $34.84 on Friday. The stock’s 50-day moving average price is $31.42 and its 200-day moving average price is $30.39. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.48. The stock has a market capitalization of $5.79 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 8.69 and a beta of 0.44.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The company had revenue of $384.55 million during the quarter, compared to analysts’ expectations of $380.44 million. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 EPS. As a group, research analysts predict that Alkermes plc will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Alkermes

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after acquiring an additional 740,248 shares during the period. Public Sector Pension Investment Board increased its position in Alkermes by 11.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock valued at $21,321,000 after purchasing an additional 73,787 shares during the period. Victory Capital Management Inc. increased its position in Alkermes by 43.1% during the 3rd quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock valued at $10,326,000 after purchasing an additional 103,749 shares during the period. Artisan Partners Limited Partnership raised its holdings in Alkermes by 36.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,109,772 shares of the company’s stock worth $63,293,000 after purchasing an additional 567,965 shares in the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of Alkermes in the 2nd quarter worth about $1,142,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ALKS shares. Wells Fargo & Company boosted their price objective on Alkermes from $37.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. Royal Bank Of Canada cut their target price on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. HC Wainwright reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Alkermes in a research note on Thursday, February 26th. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Wolfe Research started coverage on shares of Alkermes in a research report on Monday, February 23rd. They set an “outperform” rating and a $45.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.93.

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.