Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson Sells 144,419 Shares

Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson sold 144,419 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the sale, the executive vice president now directly owns 57,875 shares in the company, valued at $2,056,298.75. This trade represents a 71.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Alkermes Stock Down 0.3 %

Shares of NASDAQ ALKS opened at $35.89 on Friday. The firm’s 50-day simple moving average is $30.31 and its 200 day simple moving average is $28.73. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $36.25.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. On average, research analysts expect that Alkermes plc will post 2.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALKS. Avoro Capital Advisors LLC acquired a new position in Alkermes during the 4th quarter valued at about $70,462,000. Norges Bank acquired a new position in Alkermes during the 4th quarter valued at about $56,684,000. Loomis Sayles & Co. L P lifted its position in Alkermes by 365.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock valued at $52,704,000 after purchasing an additional 1,478,422 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in Alkermes during the 3rd quarter valued at about $16,126,000. Finally, JPMorgan Chase & Co. lifted its position in Alkermes by 147.4% during the 4th quarter. JPMorgan Chase & Co. now owns 889,472 shares of the company’s stock valued at $25,581,000 after purchasing an additional 529,962 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. HC Wainwright restated a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research note on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Alkermes in a research note on Tuesday. They issued a “buy” rating and a $40.00 target price on the stock. Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.25.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.