Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson Sells 58,996 Shares

Alkermes plc (NASDAQ:ALKS) EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the transaction, the executive vice president now owns 83,300 shares of the company’s stock, valued at $2,505,664. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Alkermes Price Performance

Shares of NASDAQ:ALKS traded down $0.85 during trading on Tuesday, reaching $29.23. The stock had a trading volume of 1,545,729 shares, compared to its average volume of 1,836,108. The stock has a market capitalization of $4.73 billion, a PE ratio of 15.42, a P/E/G ratio of 0.96 and a beta of 0.47. Alkermes plc has a 52 week low of $22.06 and a 52 week high of $32.88. The business’s 50-day moving average price is $27.69 and its 200 day moving average price is $26.13. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03.

Hedge Funds Weigh In On Alkermes

A number of large investors have recently modified their holdings of ALKS. Foundry Partners LLC bought a new position in Alkermes in the 1st quarter worth approximately $3,857,000. Wedge Capital Management L L P NC acquired a new position in shares of Alkermes during the second quarter valued at $2,662,000. Lazard Asset Management LLC boosted its holdings in Alkermes by 655.0% in the first quarter. Lazard Asset Management LLC now owns 77,102 shares of the company’s stock valued at $2,087,000 after acquiring an additional 66,890 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Alkermes by 421.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,326,256 shares of the company’s stock worth $225,393,000 after purchasing an additional 6,730,671 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in Alkermes by 206.1% during the 1st quarter. Edgestream Partners L.P. now owns 79,609 shares of the company’s stock worth $2,155,000 after purchasing an additional 53,600 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and boosted their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Robert W. Baird upped their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group lowered their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, HC Wainwright reissued a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.