Alkermes plc (NASDAQ:ALKS - Get Free Report) SVP Christian Todd Nichols sold 7,576 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $49.23, for a total value of $372,966.48. Following the completion of the transaction, the senior vice president owned 102,193 shares in the company, valued at approximately $5,030,961.39. This trade represents a 6.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alkermes Stock Up 1.6%
Shares of ALKS opened at $49.85 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 131.19 and a beta of 0.34. The stock has a 50 day moving average price of $50.12 and a 200 day moving average price of $39.57.
Institutional Trading of Alkermes
Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in shares of Alkermes by 117.2% during the 1st quarter. Royal Bank of Canada now owns 275,526 shares of the company's stock worth $9,098,000 after acquiring an additional 148,696 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes in the first quarter valued at about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Alkermes by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company's stock worth $15,927,000 after purchasing an additional 20,091 shares during the last quarter. Cetera Investment Advisers increased its position in Alkermes by 32.3% during the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company's stock worth $398,000 after purchasing an additional 3,394 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in Alkermes by 539.4% during the second quarter. Quantbot Technologies LP now owns 6,976 shares of the company's stock worth $200,000 after purchasing an additional 5,885 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
ALKS has been the subject of a number of research reports. Royal Bank Of Canada upped their target price on shares of Alkermes from $45.00 to $56.00 and gave the stock an "outperform" rating in a report on Tuesday, June 9th. UBS Group raised their price target on shares of Alkermes from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Piper Sandler restated an "overweight" rating and set a $65.00 price target (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. Zacks Research raised shares of Alkermes from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Bank of America reiterated an "underperform" rating on shares of Alkermes in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.56.
Check Out Our Latest Report on Alkermes
About Alkermes
(
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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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