Alkermes Plc (NASDAQ:ALKS) CEO Sells $2,268,000.00 in Stock

Alkermes Plc (NASDAQ:ALKS) CEO Richard F. Pops sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $22.68, for a total value of $2,268,000.00. Following the transaction, the chief executive officer now owns 816,433 shares of the company’s stock, valued at $18,516,700.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

ALKS stock traded down $0.32 during mid-day trading on Friday, reaching $22.30. The company had a trading volume of 1,755,524 shares, compared to its average volume of 1,146,677. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.69 and a current ratio of 2.98. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -318.57 and a beta of 1.82. The firm has a fifty day simple moving average of $21.32 and a 200 day simple moving average of $26.54. Alkermes Plc has a fifty-two week low of $19.36 and a fifty-two week high of $45.16.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, July 25th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.20. Alkermes had a negative return on equity of 4.13% and a negative net margin of 17.10%. The business had revenue of $279.90 million for the quarter, compared to analyst estimates of $251.40 million. During the same quarter last year, the company earned $0.29 EPS. The business’s quarterly revenue was down 8.1% on a year-over-year basis. As a group, analysts predict that Alkermes Plc will post -0.39 earnings per share for the current year.

A number of brokerages recently commented on ALKS. Goldman Sachs Group upgraded Alkermes from a “sell” rating to a “neutral” rating and set a $27.00 target price for the company in a report on Monday, July 15th. ValuEngine upgraded Alkermes from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup set a $25.00 target price on Alkermes and gave the company a “hold” rating in a report on Friday, July 26th. Zacks Investment Research cut Alkermes from a “buy” rating to a “hold” rating and set a $26.00 target price for the company. in a report on Friday, July 19th. Finally, HC Wainwright assumed coverage on Alkermes in a report on Friday, May 31st. They set a “neutral” rating and a $28.00 target price for the company. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $28.45.

Hedge funds and other institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC raised its position in shares of Alkermes by 0.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,275,948 shares of the company’s stock worth $46,559,000 after acquiring an additional 9,979 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Alkermes by 45.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,584,471 shares of the company’s stock worth $35,714,000 after acquiring an additional 495,562 shares in the last quarter. Alps Advisors Inc. acquired a new stake in shares of Alkermes during the 2nd quarter worth about $7,377,000. Commerce Bank acquired a new stake in shares of Alkermes during the 1st quarter worth about $201,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Alkermes by 74.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 147,581 shares of the company’s stock worth $3,283,000 after acquiring an additional 62,805 shares in the last quarter. 95.92% of the stock is currently owned by institutional investors and hedge funds.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. The company's marketed products include ARISTADA (aripiprazole lauroxil), an extended-release intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL (naltrexone for extended-release injectable suspension) for the treatment of alcohol and opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA for treating schizophrenia; and AMPYRA (dalfampridine)/FAMPYRA (fampridine) to enhance walking in adults with multiple sclerosis (MS) who have walking disability.

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