Key Points
- Alkermes EVP Craig Hopkinson sold 9,000 shares at an average price of $46.99, worth $422,910, reducing his stake by 12.1% to 65,389 shares. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Alkermes shares opened at $47.20, with a market capitalization of approximately $7.92 billion and a 12-month trading range of $25.17 to $55.67.
- Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $54.56. Institutional investors own 95.21% of the company, with several major funds recently increasing their positions.
Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP Craig Hopkinson sold 9,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $46.99, for a total value of $422,910.00. Following the completion of the sale, the executive vice president owned 65,389 shares in the company, valued at $3,072,629.11. The trade was a 12.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Alkermes Stock Up 0.4%
Shares of NASDAQ:ALKS opened at $47.20 on Wednesday. The stock has a fifty day simple moving average of $50.91 and a two-hundred day simple moving average of $40.66. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 124.21 and a beta of 0.31. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.67. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82.
Analysts Set New Price Targets
ALKS has been the topic of a number of analyst reports. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research note on Thursday, July 30th. Robert W. Baird raised their price target on shares of Alkermes from $48.00 to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Needham & Company LLC upped their price objective on Alkermes from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Piper Sandler reissued an "overweight" rating and issued a $65.00 target price (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. Finally, Bank of America restated an "underperform" rating on shares of Alkermes in a research note on Monday, June 29th. One investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $54.56.
Get Our Latest Stock Analysis on ALKS
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in Alkermes by 5,527.7% in the second quarter. California State Teachers Retirement System now owns 10,343,402 shares of the company's stock worth $541,994,000 after purchasing an additional 10,159,607 shares during the last quarter. Baker BROS. Advisors LP raised its stake in Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock valued at $280,143,000 after buying an additional 1,920,916 shares during the last quarter. State Street Corp raised its stake in Alkermes by 10.9% during the 4th quarter. State Street Corp now owns 9,472,858 shares of the company's stock valued at $265,051,000 after buying an additional 932,507 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Alkermes by 6.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company's stock valued at $186,571,000 after buying an additional 375,500 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alkermes by 32.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company's stock valued at $145,064,000 after buying an additional 1,256,377 shares during the period. Institutional investors own 95.21% of the company's stock.
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.
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