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

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 value of $98,811.72. Following the sale, the executive vice president owned 225,456 shares of the company’s stock, valued at approximately $10,952,652.48. This represents a 0.89% decrease in their position. The sale was disclosed in a legal filing 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 value of $109,897.02.
• On Thursday, June 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $43.05, for a total value of $87,563.70.

Alkermes Stock Up 1.1%

Shares of ALKS stock traded up $0.54 during trading hours on Monday, reaching $49.53. 1,835,722 shares of the company’s stock were exchanged, compared to its average volume of 1,802,994. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $55.67. 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 has a market cap of $8.31 billion, a PE ratio of 130.35 and a beta of 0.34. The stock’s fifty day moving average price is $48.49 and its two-hundred day moving average price is $38.38.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALKS. Robert W. Baird upped their price target on shares of Alkermes from $48.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. UBS Group upped their target price on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their target price on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Finally, Piper Sandler reaffirmed 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. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and an average price target of $54.56.

Hedge Funds Weigh In On Alkermes

Several hedge funds and other institutional investors have recently bought and sold shares of ALKS. Hennion & Walsh Asset Management Inc. purchased a new position in Alkermes during the 2nd quarter worth approximately $2,479,000. GAMMA Investing LLC boosted its holdings in shares of Alkermes by 24.5% in the 2nd quarter. GAMMA Investing LLC now owns 6,705 shares of the company’s stock valued at $351,000 after acquiring an additional 1,320 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Alkermes in the 2nd quarter valued at $82,000. Versant Capital Management Inc increased 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 during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Alkermes by 2.0% in the first quarter. Pacer Advisors Inc. now owns 688,563 shares of the company’s stock worth $24,348,000 after acquiring an additional 13,689 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.