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 on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total transaction of $437,220.00. Following the transaction, the executive vice president owned 69,389 shares in the company, valued at $3,370,917.62. This trade represents a 11.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Price Performance

Shares of ALKS stock opened at $49.53 on Tuesday. The firm has a fifty day moving average of $48.49 and a two-hundred day moving average of $38.38. The firm has a market cap of $8.31 billion, a P/E ratio of 130.35 and a beta of 0.34. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85.

Alkermes News Roundup

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Analysts have assigned Alkermes a consensus rating of “Moderate Buy,” indicating that Wall Street’s overall stance remains favorable toward the company and its outlook. Alkermes Receives Consensus Recommendation of Moderate Buy
• Neutral Sentiment: HC Wainwright published an estimate for Alkermes’ third-quarter earnings. The report could influence trading as investors assess whether upcoming results can support the company’s premium valuation, although the specific estimate was not provided. HC Wainwright Estimates Alkermes’ Q3 Earnings
• Negative Sentiment: Director Nancy Lynn Md Snyderman sold 44,472 ALKS shares for approximately $2.24 million, reducing her direct ownership by about 74%. The sizable sale may raise concern about insider confidence, although the filing does not establish that the transaction reflects a negative view of the business. SEC insider transaction filing
• Negative Sentiment: EVP Craig C. Hopkinson sold 9,000 shares valued at roughly $437,000, cutting his direct holdings by 11.48%. The sale was made under a pre-arranged Rule 10b5-1 trading plan, which reduces its significance as a discretionary bearish signal. SEC insider transaction filing
• Negative Sentiment: EVP David Joseph Gaffin sold 2,034 shares for approximately $99,000, reducing ownership by 0.89%. This transaction also occurred under a pre-arranged Rule 10b5-1 plan and is relatively small compared with his remaining stake. SEC insider transaction filing

Hedge Funds Weigh In On Alkermes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. Profund Advisors LLC raised its position in shares of 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 during the period. 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 worth $10,926,000 after acquiring an additional 67,745 shares in the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Alkermes during the third quarter valued at approximately $1,691,000. UBS Group AG lifted its position in shares of Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock valued at $71,206,000 after acquiring an additional 1,790,729 shares in the last quarter. Finally, Abacus FCF Advisors LLC acquired a new position in Alkermes in the 4th quarter worth approximately $6,141,000. 95.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research report on Thursday. Bank of America reissued an “underperform” rating on shares of Alkermes in a research report on Monday, June 29th. Robert W. Baird raised their price objective on Alkermes from $48.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Mizuho lifted their price objective on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alkermes has an average rating of “Moderate Buy” and an average 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.