Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $98,811.72 in Stock

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total value of $98,811.72. Following the completion of the transaction, the executive vice president owned 225,456 shares in the company, valued at $10,952,652.48. This trade represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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, July 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $54.03, for a total value of $109,897.02.
• 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.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $49.61 on Thursday. The stock has a fifty day moving average price of $48.97 and a 200 day moving average price of $38.64. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The company has a market cap of $8.32 billion, a PE ratio of 130.56 and a beta of 0.34.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC grew its stake in shares of Alkermes by 2.7% during the fourth quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after acquiring an additional 315 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Alkermes by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after acquiring an additional 351 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Alkermes by 33.9% in the second quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock worth $76,000 after acquiring an additional 366 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in Alkermes by 4.5% in the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after purchasing an additional 376 shares during the last quarter. Finally, Horizon Investments LLC boosted its holdings in Alkermes by 0.9% in the third quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after purchasing an additional 387 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on ALKS shares. TD Cowen increased their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Wells Fargo & Company raised their price target on Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Royal Bank Of Canada upped their price target on shares of Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.56.

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.