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 stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $48.58, for a total transaction of $98,811.72. Following the completion of the sale, the executive vice president directly owned 225,456 shares in the company, valued at approximately $10,952,652.48. This represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Monday, July 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $54.03, for a total transaction 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 transaction of $87,563.70.

Alkermes Trading Up 0.3%

ALKS opened at $49.67 on Wednesday. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 130.71 and a beta of 0.34. The stock’s 50 day moving average price is $48.74 and its 200-day moving average price is $38.51.

Alkermes News Summary

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Analysts maintain a generally favorable view of Alkermes, with the stock receiving a consensus rating of “Moderate Buy.” The broader analyst coverage includes several Buy or Overweight ratings, supporting investor confidence in the company’s outlook. Alkermes Receives Consensus Recommendation of Moderate Buy
• Neutral Sentiment: HC Wainwright issued an estimate for Alkermes’ third-quarter earnings, giving investors another reference point ahead of the results. The specific forecast was not provided, so the direct earnings implication remains unclear. HC Wainwright Estimates Alkermes’ Q3 Earnings
• Negative Sentiment: Director Nancy Lynn Md Snyderman sold 44,472 ALKS shares for approximately $2.24 million, reducing her direct ownership by about 74%. The unusually large reduction may weigh on sentiment, although insider selling does not necessarily indicate a deteriorating business outlook. SEC insider transaction filing
• Negative Sentiment: EVP Craig C. Hopkinson sold 9,000 shares valued at roughly $437,000, cutting his holdings by 11.48%. EVP David Joseph Gaffin also sold 2,034 shares for about $99,000, reducing his position by 0.89%. Both executive transactions were conducted under pre-arranged Rule 10b5-1 plans, which limits their value as discretionary bearish signals. Craig Hopkinson SEC insider transaction filing David Gaffin SEC insider transaction filing

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALKS shares. TD Cowen upped their target price on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Piper Sandler reissued an “overweight” rating and set a $65.00 price target (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. Mizuho upped their price objective on shares of Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price target on shares of Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Wells Fargo & Company upped their price target on shares of Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock valued at $9,098,000 after acquiring an additional 148,696 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alkermes in the 1st quarter worth $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alkermes by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after buying an additional 20,091 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Alkermes by 32.3% in the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after acquiring an additional 3,394 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Alkermes by 539.4% in the second quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock worth $200,000 after acquiring an additional 5,885 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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.