Christian Todd Nichols Sells 5,208 Shares of Alkermes plc (NASDAQ:ALKS) Stock

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

Alkermes Trading Down 1.0 %

Shares of ALKS stock opened at $29.02 on Friday. Alkermes plc has a fifty-two week low of $22.90 and a fifty-two week high of $32.88. The firm’s 50 day moving average price is $28.01 and its two-hundred day moving average price is $26.52. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 0.97 and a beta of 0.47. 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 Analyst Weigh In

ALKS has been the subject of a number of analyst reports. HC Wainwright reissued a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. Cantor Fitzgerald cut their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Mizuho increased their price target on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $37.00 target price (down from $38.00) 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 issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALKS. V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the third quarter worth $29,000. Signaturefd LLC grew its stake in Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of 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 raised its position in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after acquiring an additional 703 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Alkermes during the second quarter worth $116,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Company Profile

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.