Alkermes (NASDAQ:ALKS) EVP Craig Hopkinson Sells 4,000 Shares

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 4,000 shares of Alkermes stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $29.30, for a total value of $117,200.00. Following the completion of the transaction, the executive vice president owned 65,740 shares in the company, valued at approximately $1,926,182. This represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Alkermes Trading Down 2.3%

Shares of NASDAQ:ALKS traded down $0.68 during trading on Monday, reaching $28.90. 1,539,844 shares of the company traded hands, compared to its average volume of 1,948,197. The business’s fifty day moving average is $30.32 and its 200-day moving average is $29.40. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.70 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.41 by $0.08. Alkermes had a net margin of 22.27% and a return on equity of 21.81%. The firm had revenue of $394.19 million during the quarter, compared to the consensus estimate of $355.23 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Alkermes has set its FY 2025 guidance at 1.360-1.470 EPS. On average, sell-side analysts predict that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALKS has been the topic of several research analyst reports. Truist Financial boosted their price target on shares of Alkermes from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Zacks Research downgraded shares of Alkermes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 20th. JPMorgan Chase & Co. raised their target price on shares of Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Mizuho lifted their price objective on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Finally, Wall Street Zen lowered Alkermes from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.69.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. boosted its stake in shares of Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after acquiring an additional 747 shares during the last quarter. Twin Tree Management LP bought a new position in Alkermes in the 1st quarter worth $29,000. Armstrong Advisory Group Inc. purchased a new position in Alkermes during the second quarter valued at $29,000. Johnson Financial Group Inc. bought a new stake in Alkermes during the third quarter valued at about $31,000. Finally, Brooklyn Investment Group increased its position in Alkermes by 1,071.1% in the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after buying an additional 964 shares in the last quarter. 95.21% of the stock is 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.