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 $84,020 were sold by LAURENCIN CATO T on Jun 08. At $31.85 per share, LAURENCIN CATO T sold 2,638 shares. The insider’s holdings dropped to 7,479 shares worth approximately $0.21 million following the completion of this transaction.
Also, LAURENCIN CATO T sold 2,800 shares, netting a total of over 88,200 in proceeds. Following the sale of shares at $31.50 each, the insider now holds 7,479 shares.
Before that, Nichols Christian Todd had sold 27,134 shares from its account. In a trade valued at $784,862, the SVP, Chief Commercial Officer traded Alkermes plc shares for $28.93 each. Upon closing the transaction, the insider’s holdings decreased to 27,134 shares, worth approximately $1.13 million.
As published in a research note from Piper Sandler on November 03, 2022, Alkermes plc [ALKS] has been rated up from a Neutral to an Overweight and the price target has been revised to $30 from $26. This represents a 8.13% premium over Thursday’s closing price.
Analyzing ALKS Stock Performance
On Thursday, Alkermes plc [NASDAQ: ALKS] plunged -1.25% to $27.56. The stock’s lowest price that day was $27.43, but it reached a high of $28.00 in the same session. During the last five days, there has been a drop of approximately -4.04%. Over the course of the year, Alkermes plc shares have jumped approximately 5.47%. Shares of the company reached a 52-week high of $33.71 on 06/26/23 and a 52-week low of $25.00 on 01/05/23. A 50-day SMA is recorded $30.18, while a 200-day SMA reached $28.11. Nevertheless, trading volume fell to 2.69 million shares from 2.78 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 27.33, which, if violated, would cause prices to drop to 27.09. In the upper region, resistance lies at 27.90. The next price resistance is at 28.23. RSI (Relative Strength Index) is 37.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.17, which suggests the price will decrease in the coming days. Percent R is at 94.72%, indicating bearish 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 30, 2023 jumping by 0.27 million shares to 6.11 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 5.84 million shares. A jump of 4.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.08 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.08.
Which companies own the most shares of Alkermes plc (ALKS)?
In terms of Alkermes plc share price expectations, FactSet research, analysts set an average price target of $36.67 in the next 12 months, up nearly 28.99% from the previous closing price of $27.91. Analysts anticipate Alkermes plc stock to reach $48.00 by 2023, with the lowest price target being $30.00. In spite of this, 10 analysts ranked Alkermes plc stock as an Overweight at the end of 2023.