Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells 9,000 Shares of Stock

Alkermes plc (NASDAQ:ALKS) EVP Craig Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $41.67, for a total value of $375,030.00. Following the sale, the executive vice president owned 77,389 shares in the company, valued at $3,224,799.63. The trade was a 10.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Stock Up 0.2%

NASDAQ ALKS traded up $0.08 on Monday, hitting $42.27. 2,404,243 shares of the stock traded hands, compared to its average volume of 2,224,988. The stock has a 50-day moving average of $34.77 and a 200 day moving average of $31.86. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $42.83. The company has a market capitalization of $7.05 billion, a P/E ratio of 46.97 and a beta of 0.38. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The firm had revenue of $384.55 million for the quarter. As a group, analysts expect that Alkermes plc will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wolfe Research assumed coverage on Alkermes in a research report on Monday, February 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Wall Street Zen cut Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings cut Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Royal Bank Of Canada lowered their target price on Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Finally, Robert W. Baird raised their target price on Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.40.

Institutional Investors Weigh In On Alkermes

Large investors have recently modified their holdings of the stock. 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 in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Alkermes in the fourth quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Alkermes in the third quarter worth $31,000. UMB Bank n.a. boosted its position in shares of Alkermes by 57.6% in the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after buying an additional 446 shares during the period. Finally, Hantz Financial Services Inc. boosted its position in shares of Alkermes by 395.6% in the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock worth $37,000 after buying an additional 989 shares during the period. 95.21% of the stock is owned by institutional investors.

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.