Alkermes (NASDAQ:ALKS) EVP David Joseph Gaffin Sells 2,035 Shares of Company Stock

Alkermes plc (NASDAQ:ALKS) EVP David Gaffin sold 2,035 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $46.17, for a total value of $93,955.95. Following the completion of the sale, the executive vice president owned 219,353 shares of the company’s stock, valued at $10,127,528.01. This represents a 0.92% decrease in their ownership of the stock. 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 Friday, October 2nd, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $41.03, for a total value of $83,455.02.
• On Thursday, September 3rd, David Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $48.01, for a total value of $97,652.34.

Alkermes Stock Performance

Shares of Alkermes stock opened at $45.69 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average price is $43.92 and its 200-day moving average price is $40.59. The firm has a market cap of $7.66 billion, a P/E ratio of 104.39 and a beta of 0.32. Alkermes plc has a 12 month low of $27.00 and a 12 month high of $55.67.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.17. Alkermes had a net margin of 3.96% and a return on equity of 4.15%. The company had revenue of $480.13 million during the quarter, compared to analyst estimates of $463.48 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, equities research analysts expect that Alkermes plc will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. First Trust Advisors LP lifted its holdings in shares of Alkermes by 104.2% during the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after purchasing an additional 1,514,783 shares during the last quarter. Commodore Capital LP boosted its position in shares of Alkermes by 18.3% in the 1st quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock worth $148,512,000 after purchasing an additional 650,000 shares in the last quarter. Affinity Asset Advisors LLC boosted its position in shares of Alkermes by 35.0% in the 1st quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company’s stock worth $47,736,000 after purchasing an additional 350,000 shares in the last quarter. Spruce Street Capital LP acquired a new stake in shares of Alkermes in the 1st quarter worth $11,244,000. Finally, S&CO Inc. purchased a new position in Alkermes during the 2nd quarter worth $12,824,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Trending Headlines about Alkermes

Here are the key news stories impacting Alkermes this week:

• Positive Sentiment: Alkermes earned $0.09 per share, versus analysts’ expectation of a $0.08 loss, and revenue of $480.1 million topped the $463.5 million consensus estimate. Revenue grew 21.8% year over year. The earnings and sales beats may support investor confidence. Article: Alkermes Surpasses Q3 Earnings and Revenue Estimates
• Neutral Sentiment: EVP David Gaffin sold 2,035 shares for about $94,000, a 0.92% reduction in his holdings. The sale was made under a pre-arranged Rule 10b5-1 trading plan, which makes it less suggestive of a discretionary change in outlook. SEC Form 4
• Negative Sentiment: Despite the quarterly beat, EPS was down from $0.49 in the year-ago quarter, a notable year-over-year decline that could temper enthusiasm about the results. Article: Alkermes Q3 Earnings Metrics

Analysts Set New Price Targets

ALKS has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $62.00 price target on shares of Alkermes in a report on Monday, September 21st. Robert W. Baird increased their price objective on shares of Alkermes from $58.00 to $61.00 and gave the company an “outperform” rating in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research note on Monday, September 21st. Finally, TD Cowen restated a “buy” rating on shares of Alkermes in a report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.38.

About Alkermes

Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.

The company’s marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.