Alkermes plc (NASDAQ:ALKS) SVP Christian Todd Nichols Sells 5,208 Shares

Alkermes plc (NASDAQ:ALKS) SVP Christian Todd Nichols sold 5,208 shares of Alkermes stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares in the company, valued at $1,769,492.45. This represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alkermes Trading Up 0.2 %

Shares of Alkermes stock opened at $29.32 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The stock has a market capitalization of $4.74 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.98 and a beta of 0.47. Alkermes plc has a 52-week low of $22.22 and a 52-week high of $32.88. The stock’s 50-day simple moving average is $28.00 and its 200 day simple moving average is $26.49.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALKS. Armistice Capital LLC lifted its position in shares of Alkermes by 301.5% during the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after acquiring an additional 2,026,961 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of 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. Pacer Advisors Inc. lifted its holdings in Alkermes by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after purchasing an additional 1,362,079 shares in the last quarter. American Century Companies Inc. boosted its stake in Alkermes by 87.1% in the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after purchasing an additional 1,025,905 shares during the period. Finally, Frazier Life Sciences Management L.P. purchased a new position in Alkermes during the 3rd quarter valued at about $16,126,000. 95.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald dropped their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. The Goldman Sachs Group dropped their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Mizuho upped their target price on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.42.

About Alkermes

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.