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 shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the sale, the executive vice president now directly owns 83,300 shares of the company’s stock, valued at $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Alkermes Stock Performance

Shares of Alkermes stock opened at $28.35 on Friday. The company has a market capitalization of $4.59 billion, a PE ratio of 14.91, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The company has a 50-day simple moving average of $27.73 and a two-hundred day simple moving average of $26.18. Alkermes plc has a one year low of $22.06 and a one year high of $32.88.

Hedge Funds Weigh In On Alkermes

A number of large investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. raised its holdings in Alkermes by 218.4% in the third quarter. Edgestream Partners L.P. now owns 270,671 shares of the company’s stock worth $7,576,000 after purchasing an additional 185,648 shares in the last quarter. PDT Partners LLC increased its holdings in shares of Alkermes by 319.2% during the third quarter. PDT Partners LLC now owns 103,958 shares of the company’s stock valued at $2,910,000 after acquiring an additional 79,158 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Alkermes by 68.2% during the third quarter. Verition Fund Management LLC now owns 14,455 shares of the company’s stock valued at $405,000 after acquiring an additional 5,863 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Alkermes during the third quarter valued at about $468,000. Finally, Martingale Asset Management L P increased its holdings in shares of Alkermes by 10.6% during the third quarter. Martingale Asset Management L P now owns 93,273 shares of the company’s stock valued at $2,611,000 after acquiring an additional 8,928 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. 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. JPMorgan Chase & Co. lowered their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Cantor Fitzgerald decreased their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Finally, Robert W. Baird lifted their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.42.

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.