Insider Selling: Alkermes PLC (ALKS) SVP Sells 20,932 Shares of Stock
Alkermes PLC (NASDAQ:ALKS) SVP James M. Frates sold 20,932 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $50.51, for a total value of $1,057,275.32. Following the completion of the sale, the senior vice president now directly owns 164,971 shares of the company’s stock, valued at approximately $8,332,685.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
James M. Frates also recently made the following trade(s):
- On Wednesday, November 8th, James M. Frates sold 20,932 shares of Alkermes stock. The shares were sold at an average price of $47.58, for a total value of $995,944.56.
Alkermes PLC (NASDAQ ALKS) traded up $0.84 during midday trading on Thursday, reaching $52.29. The company had a trading volume of 856,233 shares, compared to its average volume of 836,215. Alkermes PLC has a fifty-two week low of $46.42 and a fifty-two week high of $63.40. The company has a quick ratio of 2.72, a current ratio of 3.05 and a debt-to-equity ratio of 0.23.
Several equities research analysts have recently weighed in on ALKS shares. ValuEngine raised Alkermes from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Jefferies Group set a $69.00 price target on Alkermes and gave the company a “buy” rating in a research note on Friday, August 25th. BidaskClub cut Alkermes from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 9th. Citigroup set a $62.00 price target on Alkermes and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group decreased their price target on Alkermes from $70.00 to $66.00 and set an “outperform” rating for the company in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $63.55.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenwood Capital Associates LLC grew its stake in Alkermes by 1.1% during the second quarter. Greenwood Capital Associates LLC now owns 3,770 shares of the company’s stock worth $219,000 after purchasing an additional 41 shares during the period. World Asset Management Inc grew its stake in Alkermes by 1.9% during the second quarter. World Asset Management Inc now owns 6,939 shares of the company’s stock worth $402,000 after purchasing an additional 128 shares during the period. Capstone Asset Management Co. boosted its holdings in Alkermes by 2.6% in the second quarter. Capstone Asset Management Co. now owns 6,755 shares of the company’s stock worth $392,000 after acquiring an additional 170 shares in the last quarter. M&T Bank Corp boosted its holdings in Alkermes by 2.9% in the second quarter. M&T Bank Corp now owns 7,135 shares of the company’s stock worth $413,000 after acquiring an additional 200 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in Alkermes by 12.7% in the second quarter. Toronto Dominion Bank now owns 1,875 shares of the company’s stock worth $109,000 after acquiring an additional 212 shares in the last quarter. 99.75% of the stock is owned by institutional investors and hedge funds.
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Alkermes Company Profile
Alkermes plc is a biopharmaceutical company. The Company is engaged in the researching, developing and commercializing pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of marketed drug products and a clinical pipeline of products that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis (MS).
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