Alkermes plc (NASDAQ:ALKS) EVP Sells $1,774,599.68 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson sold 58,996 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the sale, the executive vice president now owns 83,300 shares of the company’s stock, valued at $2,505,664. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alkermes Price Performance

Shares of ALKS traded down $0.85 during trading hours on Tuesday, reaching $29.23. The stock had a trading volume of 1,545,729 shares, compared to its average volume of 1,836,108. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. Alkermes plc has a 12 month low of $22.06 and a 12 month high of $32.88. The stock has a market capitalization of $4.73 billion, a PE ratio of 15.42, a PEG ratio of 0.96 and a beta of 0.47. The company’s 50-day moving average is $27.69 and its two-hundred day moving average is $26.13.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALKS. HC Wainwright reissued a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Robert W. Baird lifted their target price on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and upped their price objective for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Finally, StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Institutional Trading of Alkermes

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Alkermes by 421.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after buying an additional 6,730,671 shares during the period. Armistice Capital LLC increased its holdings in Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after purchasing an additional 2,026,961 shares during the period. Pacer Advisors Inc. grew its position in shares of Alkermes by 31.8% in the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after buying an additional 1,362,079 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Alkermes by 87.1% in the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after buying an additional 1,025,905 shares during the period. Finally, Affinity Asset Advisors LLC raised its position in shares of Alkermes by 766.7% during the second quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock worth $15,665,000 after acquiring an additional 575,000 shares during the last quarter. 95.21% of the stock is currently owned by 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.