Alkermes (NASDAQ:ALKS) Director Sells $2,239,165.20 in Stock

Alkermes plc (NASDAQ:ALKS) Director Nancy Lynn Md Snyderman sold 44,472 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $50.35, for a total value of $2,239,165.20. Following the completion of the sale, the director owned 15,395 shares in the company, valued at approximately $775,138.25. This represents a 74.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alkermes Stock Performance

ALKS opened at $49.61 on Thursday. Alkermes plc has a 12-month low of $25.17 and a 12-month high of $55.67. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $8.32 billion, a PE ratio of 130.56 and a beta of 0.34. The firm has a 50 day moving average of $48.97 and a two-hundred day moving average of $38.64.

Hedge Funds Weigh In On Alkermes

Several large investors have recently made changes to their positions in the company. Profund Advisors LLC boosted its position in Alkermes by 80.9% during the fourth quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock worth $2,256,000 after purchasing an additional 36,067 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Alkermes by 21.0% in the fourth quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after buying an additional 67,745 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Alkermes during the 3rd quarter worth approximately $1,691,000. UBS Group AG raised its stake in shares of Alkermes by 237.4% during the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after buying an additional 1,790,729 shares during the period. Finally, Abacus FCF Advisors LLC purchased a new position in shares of Alkermes during the 4th quarter valued at approximately $6,141,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ALKS shares. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price target (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. UBS Group increased their price target on Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lifted their price objective on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company boosted their price objective on Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.56.

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.