Key Points
- Alkermes director Christopher Wright sold 2,000 shares on June 12 at an average price of $45.10, totaling about $90,200. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Wright still held 25,680 shares, and the sale reduced his ownership by 7.23%.
- Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average target price of $46.13, while the shares were down 1.4% and recently traded near their 52-week high.
Alkermes plc (NASDAQ:ALKS - Get Free Report) Director Christopher Wright sold 2,000 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the transaction, the director owned 25,680 shares in the company, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alkermes Stock Down 1.4%
Alkermes stock opened at $44.28 on Friday. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $45.76. The stock has a market cap of $7.38 billion, a PE ratio of 49.20 and a beta of 0.38. The firm's 50-day simple moving average is $37.10 and its 200 day simple moving average is $32.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27.
Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The business had revenue of $384.55 million for the quarter. Research analysts predict that Alkermes plc will post -0.43 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Alkermes from $43.00 to $44.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Alkermes from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Wolfe Research began coverage on shares of Alkermes in a research note on Monday, February 23rd. They issued an "outperform" rating and a $45.00 target price on the stock. Piper Sandler decreased their target price on Alkermes from $45.00 to $43.00 and set an "overweight" rating for the company in a research report on Tuesday, March 24th. Finally, Robert W. Baird upped their price target on Alkermes from $45.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned 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 target price of $46.13.
Get Our Latest Stock Report on ALKS
Institutional Trading of Alkermes
Hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC lifted its stake in shares of Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company's stock valued at $340,000 after buying an additional 315 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Alkermes by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company's stock valued at $289,000 after buying an additional 351 shares in the last quarter. Orion Porfolio Solutions LLC lifted its stake in shares of Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company's stock valued at $263,000 after buying an additional 376 shares in the last quarter. Horizon Investments LLC lifted its stake in shares of Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company's stock valued at $1,290,000 after buying an additional 387 shares in the last quarter. Finally, AMG National Trust Bank lifted its stake in shares of Alkermes by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company's stock valued at $1,805,000 after buying an additional 388 shares in the last quarter. Institutional investors own 95.21% of the company's stock.
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.
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