Alkermes plc (NASDAQ:ALKS – Get Free Report) Director Nancy Lynn Md Snyderman sold 44,472 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $50.35, for a total value of $2,239,165.20. Following the completion of the sale, the director directly owned 15,395 shares of the company’s stock, valued at approximately $775,138.25. This represents a 74.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Alkermes Stock Performance
Shares of Alkermes stock traded up $0.54 on Monday, reaching $49.53. 1,835,722 shares of the stock were exchanged, compared to its average volume of 1,802,994. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $55.67. The firm has a market capitalization of $8.31 billion, a price-to-earnings ratio of 130.35 and a beta of 0.34. The business has a 50 day moving average price of $48.49 and a two-hundred day moving average price of $38.38.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the company. Weiss Ratings cut Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Stifel Nicolaus reiterated a “buy” rating and set a $63.00 target price (up from $45.00) on shares of Alkermes in a research report on Monday, July 20th. Wells Fargo & Company raised their price target on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Bank of America reiterated an “underperform” rating on shares of Alkermes in a research note on Monday, June 29th. Finally, Robert W. Baird increased their target price on Alkermes from $48.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.56.
Institutional Investors Weigh In On Alkermes
Large investors have recently made changes to their positions in the stock. Profund Advisors LLC boosted its position in shares of Alkermes by 80.9% during the 4th quarter. Profund Advisors LLC now owns 80,624 shares of the company’s stock valued at $2,256,000 after acquiring an additional 36,067 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Alkermes by 21.0% in the 4th quarter. Fisher Asset Management LLC now owns 390,493 shares of the company’s stock valued at $10,926,000 after purchasing an additional 67,745 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Alkermes in the 3rd quarter valued at approximately $1,691,000. UBS Group AG raised its position in shares of Alkermes by 237.4% during 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 during the period. Finally, Abacus FCF Advisors LLC purchased a new position in Alkermes in the fourth quarter worth approximately $6,141,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
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