Sunday, June 26, 2022

Selling Buzz: Alkermes plc [ALKS] SVP, Chief Commercial Officer Nichols Christian Todd sells 7,474 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Alkermes plc shares valued at $211,203 were sold by Nichols Christian Todd on Jun 21. At $28.26 per share, Nichols Christian Todd sold 7,474 shares. The insider’s holdings dropped to 21,035 shares worth approximately $0.59 million following the completion of this transaction.

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Also, LANDINE MICHAEL J sold 50,000 shares, netting a total of over 1,457,475 in proceeds. Following the sale of shares at $29.15 each, the insider now holds 232,306 shares.

Before that, LANDINE MICHAEL J had sold 25,000 shares from its account. In a trade valued at $680,380, the SVP, Corp Dev., Alkermes, Inc. traded Alkermes plc shares for $27.22 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $6.52 million.

As published in a research note from Barrington Research on April 28, 2022, LKQ Corporation [LKQ] has been rated up from a Mkt perform to an Outperform. Analysts at Barrington Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid February. As of August 02, 2021, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for LKQ. Earlier on June 08, 2020, Northcoast downgraded its rating. Their new recommendation was “a Neutral” for LKQ stock which previously was a “a Buy”. This represents a 19.8% premium over Wednesday’s closing price. Analysts at Goldman started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of January 27, 2022, Cantor Fitzgerald has increased its “Hold” rating to a “an Overweight” for ALKS. Earlier on December 01, 2021, Citigroup initiated its rating. Their recommendation was “a Neutral” for ALKS stock.

Analyzing ALKS’s Price Performance

On Wednesday, Alkermes plc [NASDAQ: ALKS] rose 1.52% to $28.07. The stock’s lowest price that day was $27.28, but it reached a high of $28.69 in the same session. During the last five days, there has been a surge of approximately 3.24%. Over the course of the year, Alkermes plc shares have jumped approximately 20.68%. Shares of the company reached a 52-week high of $32.79 on 04/28/22 and a 52-week low of $22.72 on 02/08/22. A 50-day SMA is recorded $28.54, while a 200-day SMA reached $26.86. Nevertheless, trading volume fell to 1.72 million shares from 1.28 million shares the previous day.

Support And Resistance Levels for Alkermes plc (ALKS)

According to the 24-hour chart, there is a support level at 27.34, which, if violated, would cause prices to drop to 26.60. In the upper region, resistance lies at 28.75. The next price resistance is at 29.42. RSI (Relative Strength Index) is 48.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 62.07%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of Alkermes plc (ALKS)?

According to The Vanguard Group, Inc. filings, the company currently owns 16,365,172 shares, which is about 10.01% of the total ALKS shares outstanding. The investor’s shares have plunged by -80,656 from its previous 13-F filing of 16445828.0 shares. With the completion of the sale, Sarissa Capital Management LP’s stake is now worth $419,094,000. T. Rowe Price Associates, Inc. reduced a -37.95% interest valued at $388.96 million while Wellington Management Co. LLP sold a -328,681 stake. A total of -114,005 shares of Alkermes plc were sold by BlackRock Fund Advisors during the quarter, and 85,459 were bought by SSgA Funds Management, Inc. In its current portfolio, PRIMECAP Management Co. holds 5,667,890 shares valued at $169.19 million.

In terms of Alkermes plc share price expectations, FactSet research, analysts set an average price target of $31.56 in the next 12 months, up nearly 15.73% from the previous closing price of $27.65. Analysts anticipate Alkermes plc stock to reach $37.00 by 2022, with the lowest price target being $27.00. In spite of this, 9 analysts ranked Alkermes plc stock as an Overweight at the end of 2022. On October 07, 2021, Jefferies assigned a price target of “a Buy” to the stock and upgraded coverage with a $36.

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