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

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $33.93, for a total transaction of $305,370.00. Following the sale, the executive vice president directly owned 57,740 shares of the company’s stock, valued at approximately $1,959,118.20. This trade represents a 13.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alkermes Price Performance

Shares of Alkermes stock traded up $1.07 during trading on Monday, reaching $34.96. 1,826,108 shares of the stock traded hands, compared to its average volume of 2,209,119. The business has a fifty day simple moving average of $29.96 and a two-hundred day simple moving average of $29.42. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $36.45. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 17.31 and a beta of 0.49.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently bought and sold shares of ALKS. State Street Corp raised its position in shares of Alkermes by 2.3% in the second quarter. State Street Corp now owns 8,208,256 shares of the company’s stock worth $234,838,000 after acquiring an additional 185,586 shares during the period. Baker BROS. Advisors LP boosted its stake in Alkermes by 26.2% during the third quarter. Baker BROS. Advisors LP now owns 8,091,351 shares of the company’s stock worth $242,741,000 after buying an additional 1,680,748 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Alkermes by 20.2% in the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after acquiring an additional 740,248 shares during the last quarter. Geode Capital Management LLC increased its position in Alkermes by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,023,552 shares of the company’s stock worth $115,128,000 after purchasing an additional 83,858 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Alkermes by 19.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,697,996 shares of the company’s stock worth $110,925,000 after buying an additional 601,359 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 9th. Zacks Research raised shares of Alkermes from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 13th. Mizuho upped their target price on Alkermes from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company cut their price objective on Alkermes from $42.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 13th. Finally, HC Wainwright restated a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.69.

About Alkermes

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.