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

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.20, for a total transaction of $67,528.80. Following the sale, the executive vice president directly owned 231,558 shares of the company’s stock, valued at $7,687,725.60. The trade was a 0.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 Monday, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $34.57, for a total transaction of $70,315.38.
• On Monday, March 2nd, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $29.29, for a total transaction of $59,575.86.

Alkermes Stock Performance

Shares of ALKS stock opened at $34.17 on Tuesday. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 23.90 and a beta of 0.31. The company has a 50-day simple moving average of $31.44 and a 200 day simple moving average of $30.95. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.48.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The business had revenue of $384.55 million during the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. Sell-side analysts forecast that Alkermes plc will post -0.69 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Zacks Research upgraded shares of Alkermes from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wolfe Research assumed coverage on shares of Alkermes in a research note on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price objective for the company. Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler dropped their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, March 24th. Finally, Weiss Ratings upgraded shares of Alkermes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.29.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC increased its position in Alkermes by 2.7% during the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock worth $340,000 after purchasing an additional 315 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Alkermes by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after purchasing an additional 351 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after purchasing an additional 376 shares in the last quarter. Horizon Investments LLC increased its position in Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after purchasing an additional 387 shares in the last quarter. Finally, AMG National Trust Bank increased its position in Alkermes by 0.6% during the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock worth $1,805,000 after purchasing an additional 388 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.