Key Points
- Alkermes EVP Craig Hopkinson sold 9,000 shares on May 1 at an average price of $33.40 for proceeds of $300,600, reducing his stake by 9.96% to 81,389 shares valued at about $2.72 million.
- The sale was executed under a pre-arranged Rule 10b5-1 trading plan and was disclosed in an SEC Form 4 filing.
- Alkermes shares traded around $33.38 (market cap ~$5.55B) with a 12‑month range of $25.17–$36.48, and analysts hold a consensus Moderate Buy rating with an average price target of $44.29.
Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP Craig Hopkinson sold 9,000 shares of Alkermes stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $33.40, for a total transaction of $300,600.00. Following the completion of the sale, the executive vice president owned 81,389 shares of the company's stock, valued at $2,718,392.60. This trade represents a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alkermes Stock Down 1.0%
NASDAQ ALKS opened at $33.38 on Friday. The stock has a market capitalization of $5.55 billion, a PE ratio of 23.34 and a beta of 0.31. The company has a 50 day moving average price of $31.44 and a two-hundred day moving average price of $30.96. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.48.
Alkermes (NASDAQ:ALKS - Get Free Report) last posted its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The firm had revenue of $384.55 million during the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. As a group, equities analysts anticipate that Alkermes plc will post -0.69 EPS for the current year.
Hedge Funds Weigh In On Alkermes
A number of institutional investors and hedge funds have recently bought and sold shares of ALKS. Norges Bank bought a new position in Alkermes during the fourth quarter worth $54,442,000. Baker BROS. Advisors LP increased its position in Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock worth $280,143,000 after acquiring an additional 1,920,916 shares during the period. UBS Group AG increased its position in Alkermes by 237.4% during the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company's stock worth $71,206,000 after acquiring an additional 1,790,729 shares during the period. JPMorgan Chase & Co. increased its position in Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company's stock worth $145,064,000 after acquiring an additional 1,256,377 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Alkermes by 1,070.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company's stock worth $36,268,000 after acquiring an additional 1,105,666 shares during the period. Institutional investors own 95.21% of the company's stock.
Wall Street Analyst Weigh In
ALKS has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Alkermes from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 24th. HC Wainwright reissued a "neutral" rating and issued a $43.00 price target on shares of Alkermes in a research report on Thursday, February 26th. Bank of America lifted their price target on shares of Alkermes from $34.00 to $36.00 and gave the company a "neutral" rating in a research report on Thursday, April 9th. Wall Street Zen lowered shares of Alkermes from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Finally, Wells Fargo & Company lifted their price target on shares of Alkermes from $37.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Alkermes has a consensus rating of "Moderate Buy" and a consensus price target of $44.29.
Check Out Our Latest Report on Alkermes
About Alkermes
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
