Home Stock Earnings A company insider recently sold 7,474 shares of Alkermes plc [ALKS]. Should You Sale?

A company insider recently sold 7,474 shares of Alkermes plc [ALKS]. Should You Sale?

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A company insider recently sold 7,474 shares of Alkermes plc [ALKS]. Should You Sale?

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 $0.51 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 $5.59 million.

As published in a research note from BofA Securities on October 14, 2022, Alkermes plc [ALKS] has been rated up from an Underperform to a Neutral and the price target has been revised to $25 from $27. This represents a 3.76% premium over Wednesday’s closing price. Analysts at Piper Sandler started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid August. Earlier on April 20, 2022, Goldman initiated its rating. Their recommendation was “a Buy” for ALKS stock.

Analyzing ALKS Stock Performance

On Wednesday, Alkermes plc [NASDAQ: ALKS] rose 3.48% to $24.06. The stock’s lowest price that day was $22.71, but it reached a high of $24.98 in the same session. During the last five days, there has been a surge of approximately 6.18%. Over the course of the year, Alkermes plc shares have jumped approximately 3.44%. Shares of the company reached a 52-week high of $32.79 on 04/28/22 and a 52-week low of $21.75 on 10/11/22. A 50-day SMA is recorded $23.17, while a 200-day SMA reached $26.18. Nevertheless, trading volume fell to 4.17 million shares from 1.88 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 22.85, which, if violated, would cause prices to drop to 21.65. In the upper region, resistance lies at 25.12. The next price resistance is at 26.19. RSI (Relative Strength Index) is 59.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.53, which suggests the price will decrease in the coming days. Percent R is at 28.57%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Alkermes plc subject to short interest?

Stocks of Alkermes plc saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.52 million shares to 7.38 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.86 million shares. A jump of 7.05% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.18 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.18.

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

According to The Vanguard Group, Inc. filings, the company currently owns 16,857,932 shares, which is about 10.26% of the total ALKS shares outstanding. The investor’s shares have appreciated by 492,760 from its previous 13-F filing of 16365172.0 shares. BlackRock Fund Advisors acquire a 1.44% interest valued at $256.66 million while T. Rowe Price Associates, Inc. sold a -10,560,157 stake. A total of -5,524,509 shares of Alkermes plc were sold by Wellington Management Co. LLP during the quarter, and 131,205 were bought by SSgA Funds Management, Inc. In its current portfolio, PRIMECAP Management Co. holds 5,388,225 shares valued at $120.32 million.

In terms of Alkermes plc share price expectations, FactSet research, analysts set an average price target of $31.44 in the next 12 months, up nearly 41.94% from the previous closing price of $23.25. Analysts anticipate Alkermes plc stock to reach $35.00 by 2022, with the lowest price target being $26.00. In spite of this, 10 analysts ranked Alkermes plc stock as an Overweight at the end of 2022. On January 27, 2022, Cantor Fitzgerald assigned a price target of “an Overweight” to the stock and upgraded coverage with a $32.

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