Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson Sells 100,918 Shares of Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total value of $3,234,421.90. Following the completion of the transaction, the executive vice president now owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. This trade represents a 69.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Alkermes Stock Down 1.2 %

ALKS opened at $31.53 on Friday. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.68 and a beta of 0.49. The firm has a 50 day moving average price of $29.82 and a 200-day moving average price of $28.27. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $32.88. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. HC Wainwright reiterated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Finally, Piper Sandler reissued an “overweight” rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.00.

Institutional Investors Weigh In On Alkermes

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new stake in shares of Alkermes in the fourth quarter worth $25,000. V Square Quantitative Management LLC bought a new stake in shares of Alkermes during the 3rd quarter valued at about $29,000. Blue Trust Inc. increased its position in shares of Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after purchasing an additional 1,629 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Alkermes by 83.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after purchasing an additional 1,917 shares during the period. Finally, Archer Investment Corp boosted its holdings in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after buying an additional 1,000 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.