Insider Selling: Alkermes Plc CEO Sells $2,493,500 in Stock (ALKS)
Alkermes Plc (NASDAQ:ALKS) CEO Richard F. Pops unloaded 50,000 shares of Alkermes Plc stock on the open market in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $49.87, for a total value of $2,493,500.00. Following the sale, the chief executive officer now directly owns 520,063 shares of the company’s stock, valued at approximately $25,935,542. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
ALKS has been the subject of a number of recent research reports. Analysts at Jefferies Group initiated coverage on shares of Alkermes Plc in a research note on Friday, May 16th. They set a “buy” rating and a $53.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Alkermes Plc in a research note on Friday, May 2nd. They now have a $50.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Alkermes Plc from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 16th. They now have a $45.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.50.
Alkermes Plc (NASDAQ:ALKS) traded up 1.68% during mid-day trading on Friday, hitting $50.94. The stock had a trading volume of 1,985,789 shares. Alkermes Plc has a one year low of $27.72 and a one year high of $54.25. The stock has a 50-day moving average of $46.64 and a 200-day moving average of $45.96. The company’s market cap is $7.362 billion.
Alkermes Plc (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $130.21 million for the quarter, compared to the consensus estimate of $135.79 million. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts expect that Alkermes Plc will post $0.49 EPS for the current fiscal year.
Alkermes Public Limited Company is an integrated, global biopharmaceutical company. The Company has a portfolio of more than 20 commercial drug products and a clinical pipeline of product candidates that address central nervous system (NASDAQ:ALKS) disorders such as addiction, schizophrenia and depression.
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