Insider Selling: Alkermes (NASDAQ:ALKS) Director Sells $90,200.00 in Stock

Alkermes plc (NASDAQ:ALKS) Director Christopher Wright sold 2,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the sale, the director owned 25,680 shares in the company, valued at approximately $1,158,168. The trade was a 7.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alkermes Price Performance

NASDAQ ALKS opened at $44.28 on Monday. The stock’s 50-day moving average price is $37.10 and its two-hundred day moving average price is $32.75. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The company has a market cap of $7.38 billion, a PE ratio of 49.20 and a beta of 0.38. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $45.76.

Alkermes (NASDAQ:ALKS) last posted 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. On average, analysts predict that Alkermes plc will post -0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group lifted their target price on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wells Fargo & Company lifted their target price on Alkermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings cut Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.13.

Institutional Investors Weigh In On Alkermes

Several large investors have recently made changes to their positions in ALKS. Norges Bank bought a new stake in shares of Alkermes in the 4th quarter valued at approximately $54,442,000. Baker BROS. Advisors LP grew its stake in shares of Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after buying an additional 1,920,916 shares in the last quarter. UBS Group AG grew its stake 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 buying an additional 1,790,729 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Alkermes by 104.2% in the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after buying an additional 1,514,783 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after buying an additional 1,256,377 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

About Alkermes

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.