Insider Selling: Alkermes Plc CFO Unloads $620,550 in Stock (ALKS)
Alkermes Plc (NASDAQ:ALKS) CFO James M. Frates unloaded 15,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $41.37, for a total transaction of $620,550.00. Following the sale, the chief financial officer now directly owns 44,225 shares in the company, valued at approximately $1,829,588. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Alkermes Plc (NASDAQ:ALKS) traded up 1.85% on Wednesday, hitting $42.31. 798,732 shares of the company’s stock traded hands. Alkermes Plc has a 52-week low of $29.36 and a 52-week high of $54.25. The stock’s 50-day moving average is $46.39 and its 200-day moving average is $46.73. The company’s market cap is $6.170 billion.
Alkermes Plc (NASDAQ:ALKS) last announced its earnings results on Thursday, July 31st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.03. The company had revenue of $153.40 million for the quarter, compared to the consensus estimate of $146.91 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that Alkermes Plc will post $0.31 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Alkermes Plc in a research note on Wednesday, August 6th. They now have a $45.00 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Alkermes Plc from $57.00 to $56.00 in a research note on Friday, August 1st. Finally, analysts at Mizuho cut their price target on shares of Alkermes Plc from $61.00 to $59.00 in a research note on Thursday, July 31st. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $48.50.
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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