Alkermes plc (NASDAQ:ALKS) Director Cato T. Laurencin Sells 2,691 Shares

Alkermes plc (NASDAQ:ALKS) Director Cato T. Laurencin sold 2,691 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Alkermes Trading Down 0.5 %

ALKS traded down $0.15 on Monday, reaching $31.31. 1,711,670 shares of the company’s stock were exchanged, compared to its average volume of 1,811,379. The company’s 50 day moving average is $28.39 and its 200-day moving average is $26.82. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.05 and a beta of 0.49. Alkermes plc has a twelve month low of $22.90 and a twelve month high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. HC Wainwright reissued a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and boosted their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, Mizuho upped their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.42.

Institutional Trading of Alkermes

A number of institutional investors and hedge funds have recently bought and sold shares of the business. EFG Asset Management North America Corp. boosted its holdings in Alkermes by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock worth $1,828,000 after acquiring an additional 359 shares during the period. United Services Automobile Association boosted its holdings in Alkermes by 3.1% in the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock worth $318,000 after acquiring an additional 400 shares during the period. Signaturefd LLC boosted its holdings in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after acquiring an additional 480 shares during the period. Handelsbanken Fonder AB boosted its holdings in Alkermes by 0.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock worth $6,175,000 after acquiring an additional 700 shares during the period. Finally, Nicollet Investment Management Inc. boosted its holdings in Alkermes by 1.7% in the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company’s stock worth $1,227,000 after acquiring an additional 714 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.