Key Points
- Alkermes EVP Craig Hopkinson sold 9,000 shares for about $463,590 at an average price of $51.51, reducing his direct stake by 10.92%. The sale was made under a pre-arranged Rule 10b5-1 plan.
- Shares of ALKS were down 1.3% and opened at $51.72, near the stock’s 52-week high of $55.28. The company currently has a market cap of $8.62 billion and a beta of 0.34.
- Analyst sentiment remains mostly positive, with several firms recently raising price targets, including Wells Fargo to $65 and Needham to $61. MarketBeat shows a consensus rating of Moderate Buy with an average target price of $48.38.
Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP Craig Hopkinson sold 9,000 shares of the business's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total value of $463,590.00. Following the transaction, the executive vice president directly owned 73,389 shares in the company, valued at $3,780,267.39. This trade represents a 10.92% decrease in their position. 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 1.3%
Shares of NASDAQ:ALKS opened at $51.72 on Thursday. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $40.88 and a two-hundred day moving average of $34.53. The stock has a market cap of $8.62 billion, a P/E ratio of 57.47 and a beta of 0.34. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.28.
Alkermes (NASDAQ:ALKS - Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The business had revenue of $384.55 million during the quarter. On average, research analysts expect that Alkermes plc will post -0.43 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have commented on ALKS. Truist Financial raised shares of Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th. HC Wainwright restated a "neutral" rating on shares of Alkermes in a report on Thursday, June 18th. Needham & Company LLC lifted their price target on shares of Alkermes from $54.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Wells Fargo & Company upped their price objective on Alkermes from $44.00 to $65.00 and gave the company an "overweight" rating in a report on Monday. Finally, Weiss Ratings lowered Alkermes from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.38.
View Our Latest Stock Report on ALKS
Institutional Investors Weigh In On Alkermes
A number of institutional investors and hedge funds have recently made changes to their positions in ALKS. Victory Capital Management Inc. raised its holdings in shares of Alkermes by 43.1% in the 3rd quarter. Victory Capital Management Inc. now owns 344,202 shares of the company's stock valued at $10,326,000 after buying an additional 103,749 shares during the period. Tudor Investment Corp ET AL acquired a new position in Alkermes during the 3rd quarter worth about $1,691,000. Fisher Asset Management LLC boosted its holdings in Alkermes by 21.0% during the 4th quarter. Fisher Asset Management LLC now owns 390,493 shares of the company's stock valued at $10,926,000 after acquiring an additional 67,745 shares during the period. Profund Advisors LLC boosted its holdings in Alkermes by 80.9% during the 4th quarter. Profund Advisors LLC now owns 80,624 shares of the company's stock valued at $2,256,000 after acquiring an additional 36,067 shares during the period. Finally, Abacus FCF Advisors LLC acquired a new position in Alkermes in the 4th quarter valued at about $6,141,000. 95.21% of the stock is owned by hedge funds and other institutional investors.
Alkermes Company Profile
(
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.
See Also
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].
