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

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the company’s 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $33.20, for a total value of $67,528.80.

Alkermes Stock Up 0.1%

ALKS opened at $55.22 on Wednesday. The stock’s fifty day simple moving average is $42.58 and its 200 day simple moving average is $35.28. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67. The stock has a market cap of $9.20 billion, a PE ratio of 61.36 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.

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

Hedge Funds Weigh In On Alkermes

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALKS. Robert W. Baird boosted their target price on shares of Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Needham & Company LLC raised their price target on shares of Alkermes from $54.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Weiss Ratings cut shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Piper Sandler cut their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, TD Cowen increased their target price on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alkermes presently has an average rating of “Moderate Buy” and a consensus 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.