Alkermes (NASDAQ:ALKS) EVP Sells $319,590.00 in Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total transaction of $319,590.00. Following the completion of the transaction, the executive vice president directly owned 85,389 shares of the company’s stock, valued at approximately $3,032,163.39. This trade represents a 9.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Alkermes Trading Down 0.2%

Shares of NASDAQ:ALKS traded down $0.06 during trading on Thursday, hitting $34.99. 415,871 shares of the stock were exchanged, compared to its average volume of 2,341,136. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $36.48. The company has a market cap of $5.82 billion, a PE ratio of 24.49, a P/E/G ratio of 8.82 and a beta of 0.44. The company has a fifty day moving average price of $31.38 and a two-hundred day moving average price of $30.28.

Alkermes (NASDAQ:ALKS) last posted its earnings results on Thursday, February 26th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). The firm had revenue of $384.55 million during the quarter, compared to analyst estimates of $380.44 million. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. Equities research analysts anticipate that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkermes

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Alkermes in the 4th quarter valued at about $54,442,000. Baker BROS. Advisors LP lifted its holdings in shares of Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after acquiring an additional 1,920,916 shares during the period. UBS Group AG boosted its position in shares of Alkermes by 237.4% in the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after acquiring an additional 1,790,729 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alkermes by 32.0% in the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after acquiring an additional 1,256,377 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Alkermes by 1,070.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock valued at $36,268,000 after purchasing an additional 1,105,666 shares during the period. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALKS. Bank of America upped their price objective on Alkermes from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. HC Wainwright restated a “neutral” rating and issued a $43.00 target price on shares of Alkermes in a report on Thursday, February 26th. Royal Bank Of Canada decreased their price target on shares of Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Wall Street Zen lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average target price of $43.93.

Alkermes Company Profile

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.