Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells 2,034 Shares

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the firm’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 transaction of $109,897.02. Following the transaction, the executive vice president directly owned 227,490 shares in the company, valued at approximately $12,291,284.70. The trade was a 0.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $33.20, for a total value of $67,528.80.

Alkermes Stock Performance

NASDAQ:ALKS traded up $0.56 during trading hours on Monday, hitting $55.14. 1,743,705 shares of the company traded hands, compared to its average volume of 2,325,650. The firm has a 50-day moving average of $41.71 and a 200 day moving average of $34.90. Alkermes plc has a twelve month low of $25.17 and a twelve month high of $55.37. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 61.27 and a beta of 0.34.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALKS. Weiss Ratings lowered shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. HC Wainwright restated a “neutral” rating on shares of Alkermes in a research note on Thursday, June 18th. Royal Bank Of Canada upped their price target on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Mizuho boosted their price target on Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Piper Sandler decreased their target price on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.62.

Institutional Investors Weigh In On Alkermes

Hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC increased its position in Alkermes by 2.7% in the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after acquiring an additional 315 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Alkermes by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after purchasing an additional 351 shares during the last quarter. Versant Capital Management Inc increased its holdings in Alkermes by 33.9% in the second quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after purchasing an additional 366 shares during the period. Orion Porfolio Solutions LLC increased its holdings in Alkermes by 4.5% in the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after purchasing an additional 376 shares during the period. Finally, Horizon Investments LLC raised its position in Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock worth $1,290,000 after purchasing an additional 387 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.