Insider Selling: Alkermes plc (NASDAQ:ALKS) SVP Sells 5,208 Shares of Stock

Alkermes plc (NASDAQ:ALKS) SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the sale, the senior vice president now owns 60,703 shares in the company, valued at $1,769,492.45. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alkermes Stock Up 0.2 %

ALKS traded up $0.07 during trading on Wednesday, hitting $29.32. 943,192 shares of the company’s stock were exchanged, compared to its average volume of 1,825,540. Alkermes plc has a fifty-two week low of $22.22 and a fifty-two week high of $32.88. The stock has a market cap of $4.74 billion, a P/E ratio of 15.00, a PEG ratio of 0.98 and a beta of 0.47. The business’s 50 day moving average is $27.95 and its two-hundred day moving average is $26.45. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALKS. The Goldman Sachs Group decreased their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and set a $37.00 target price (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Cantor Fitzgerald lowered their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, HC Wainwright reissued a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.42.

Hedge Funds Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in ALKS. Armistice Capital LLC raised its stake in shares of Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after purchasing an additional 2,026,961 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in Alkermes by 365.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock valued at $52,704,000 after acquiring an additional 1,478,422 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Alkermes by 31.8% during the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after acquiring an additional 1,362,079 shares in the last quarter. American Century Companies Inc. boosted its holdings in Alkermes by 87.1% during the 2nd quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock worth $53,103,000 after acquiring an additional 1,025,905 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new stake in shares of Alkermes in the 3rd quarter worth $16,126,000. Institutional investors 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.