Alkermes (NASDAQ:ALKS) EVP David Joseph Gaffin Sells 2,034 Shares

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $54.03, for a total transaction of $109,897.02. Following the sale, the executive vice president directly owned 227,490 shares in the company, valued at approximately $12,291,284.70. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

David Joseph Gaffin also recently made the following trade(s):

• On Thursday, June 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $43.05, for a total value of $87,563.70.
• On Monday, May 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $33.20, for a total value of $67,528.80.

Alkermes Trading Up 0.2%

Shares of ALKS stock opened at $55.23 on Tuesday. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.37. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 61.37 and a beta of 0.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The stock has a 50 day simple moving average of $42.14 and a 200-day simple moving average of $35.09.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The business had revenue of $384.55 million for the quarter. On average, equities research analysts expect that Alkermes plc will post -0.43 EPS for the current fiscal year.

Institutional Trading of Alkermes

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Alkermes by 33.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after buying an additional 366 shares during the period. Pacer Advisors Inc. raised its position in Alkermes by 2.0% in the first quarter. Pacer Advisors Inc. now owns 688,563 shares of the company’s stock valued at $24,348,000 after purchasing an additional 13,689 shares during the period. Seven Fleet Capital Management LP purchased a new position in shares of Alkermes during the 1st quarter worth $855,000. Stempoint Capital LP acquired a new stake in shares of Alkermes during the 1st quarter worth about $2,846,000. Finally, Janus Henderson Group PLC raised its holdings in Alkermes by 5.6% in the 1st quarter. Janus Henderson Group PLC now owns 154,016 shares of the company’s stock valued at $5,447,000 after buying an additional 8,212 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Mizuho raised their price target on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday. Royal Bank Of Canada upped their price objective on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Finally, Truist Financial raised shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.62.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.