Alkermes (NASDAQ:ALKS) EVP Craig Hopkinson Sells 9,000 Shares

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $31.53, for a total value of $283,770.00. Following the completion of the sale, the executive vice president directly owned 73,740 shares in the company, valued at approximately $2,325,022.20. This trade represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $32.23 on Thursday. The business’s fifty day moving average price is $28.98 and its two-hundred day moving average price is $29.16. The firm has a market capitalization of $5.32 billion, a PE ratio of 15.50, a P/E/G ratio of 1.72 and a beta of 0.54. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $36.45.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. The business had revenue of $390.66 million during the quarter, compared to analyst estimates of $343.20 million. Alkermes had a net margin of 23.15% and a return on equity of 24.86%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share. Alkermes has set its FY 2025 guidance at 1.030-1.210 EPS. Equities research analysts expect that Alkermes plc will post 1.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Alkermes from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Needham & Company LLC set a $43.00 price target on Alkermes in a research note on Tuesday, September 9th. HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Alkermes in a report on Tuesday, September 9th. Wells Fargo & Company raised shares of Alkermes to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Alkermes in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and an average price target of $42.00.

Hedge Funds Weigh In On Alkermes

Several hedge funds have recently made changes to their positions in ALKS. Twin Tree Management LP bought a new stake in Alkermes during the first quarter worth approximately $29,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Alkermes during the 2nd quarter valued at $29,000. Brooklyn Investment Group lifted its position in shares of Alkermes by 1,071.1% during the 1st quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock valued at $35,000 after acquiring an additional 964 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after purchasing an additional 385 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Alkermes by 54.4% during the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock worth $49,000 after purchasing an additional 521 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Company Profile

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.