Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $109,897.02 in Stock

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $54.03, for a total value of $109,897.02. Following the sale, the executive vice president owned 227,490 shares in the company, valued at $12,291,284.70. This represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Stock Performance

Shares of Alkermes stock opened at $54.29 on Thursday. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.67. The firm has a market capitalization of $9.05 billion, a P/E ratio of 60.32 and a beta of 0.34. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $42.99 and a two-hundred day simple moving average of $35.46.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The firm had revenue of $384.55 million for the quarter. On average, equities analysts forecast that Alkermes plc will post -0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Alkermes during the 4th quarter valued at $54,442,000. Baker BROS. Advisors LP raised its holdings in Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after purchasing an additional 1,920,916 shares during the period. UBS Group AG raised its holdings in Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after purchasing an additional 1,790,729 shares during the period. First Trust Advisors LP lifted its position in Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after purchasing an additional 1,514,783 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after purchasing an additional 1,256,377 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Needham & Company LLC boosted their target price on Alkermes from $54.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Wells Fargo & Company increased their price objective on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.62.

About Alkermes

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.