Alkermes (NASDAQ:ALKS) EVP Sells $87,563.70 in Stock

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the transaction, the executive vice president owned 229,524 shares of the company’s stock, valued at approximately $9,881,008.20. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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.
• On Monday, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $34.57, for a total value of $70,315.38.

Alkermes Stock Performance

Shares of NASDAQ:ALKS traded up $0.62 during mid-day trading on Thursday, reaching $43.38. 2,307,154 shares of the company traded hands, compared to its average volume of 2,253,623. The company’s 50 day moving average price is $35.33 and its 200-day moving average price is $32.01. The firm has a market cap of $7.23 billion, a PE ratio of 48.20 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $44.57.

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

Institutional Trading of Alkermes

Institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. lifted its position in Alkermes by 20.2% in the third quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock worth $131,924,000 after buying an additional 740,248 shares during the last quarter. Victory Capital Management Inc. lifted its position in Alkermes by 43.1% in the third quarter. Victory Capital Management Inc. now owns 344,202 shares of the company’s stock worth $10,326,000 after buying an additional 103,749 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Alkermes by 11.6% in the third quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock worth $21,321,000 after buying an additional 73,787 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Alkermes during the third quarter worth $1,691,000. Finally, Artisan Partners Limited Partnership lifted its position in shares of Alkermes by 36.8% during the third quarter. Artisan Partners Limited Partnership now owns 2,109,772 shares of the company’s stock worth $63,293,000 after purchasing an additional 567,965 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ALKS shares. Royal Bank Of Canada dropped their price target on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Truist Financial raised Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Robert W. Baird lifted their target price on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Wells Fargo & Company lifted their target price on Alkermes from $43.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, HC Wainwright restated a “neutral” rating and set a $43.00 price target on shares of Alkermes in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.40.

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.