Insider Selling: Alkermes plc (NASDAQ:ALKS) EVP Sells 10,471 Shares of Stock

by · The Markets Daily

Alkermes plc (NASDAQ:ALKS – Get Free Report) EVP Craig C. Hopkinson sold 10,471 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total transaction of $309,208.63. Following the transaction, the executive vice president now directly owns 99,238 shares of the company’s stock, valued at $2,930,498.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alkermes Trading Up 3.2 %

Shares of NASDAQ ALKS traded up $0.92 during midday trading on Wednesday, hitting $29.29. The company’s stock had a trading volume of 2,272,397 shares, compared to its average volume of 1,837,649. Alkermes plc has a 12-month low of $22.06 and a 12-month high of $32.88. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.74 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.88 and a beta of 0.47. The business’s 50 day moving average is $27.64 and its two-hundred day moving average is $26.01.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALKS. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. The Goldman Sachs Group dropped their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. Robert W. Baird lifted their price target on Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report 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 given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.00.

View Our Latest Research Report on ALKS

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently bought and sold shares of ALKS. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes during the third quarter valued at $29,000. Signaturefd LLC boosted its position in Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the period. Hexagon Capital Partners LLC grew its stake in Alkermes by 3,841.0% in the 2nd quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock worth $37,000 after acquiring an additional 1,498 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Alkermes during the second quarter valued at approximately $116,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

About Alkermes

(Get Free Report)

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.

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