Alkermes plc (NASDAQ:ALKS) Director Sells $85,708.35 in Stock

Alkermes plc (NASDAQ:ALKS) Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now directly owns 23,013 shares in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Alkermes Stock Performance

NASDAQ:ALKS opened at $30.94 on Thursday. The firm has a market capitalization of $5.01 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.05 and a beta of 0.49. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes plc has a 12-month low of $22.90 and a 12-month high of $32.88. The firm has a 50-day moving average price of $28.47 and a 200 day moving average price of $26.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALKS shares. Mizuho increased their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reduced 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. Piper Sandler restated an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. Finally, Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and upped their price target for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. One equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.42.

Institutional Investors Weigh In On Alkermes

Large investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in Alkermes by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 120,006 shares of the company’s stock valued at $3,486,000 after purchasing an additional 2,903 shares during the last quarter. Tidal Investments LLC acquired a new stake in shares of Alkermes in the third quarter valued at $1,098,000. Wilmington Savings Fund Society FSB bought a new position in shares of Alkermes in the third quarter valued at about $582,000. Sanctuary Advisors LLC lifted its position in Alkermes by 254.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock worth $944,000 after buying an additional 23,541 shares in the last quarter. Finally, Hohimer Wealth Management LLC bought a new stake in Alkermes during the 3rd quarter worth about $315,000. 95.21% of the stock is currently owned by institutional investors.

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.