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 business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the transaction, the executive vice president owned 229,524 shares of the company’s stock, valued at $9,881,008.20. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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.
• On Monday, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $34.57, for a total value of $70,315.38.

Alkermes Stock Down 1.3%

Shares of NASDAQ:ALKS opened at $42.80 on Friday. Alkermes plc has a 1 year low of $25.17 and a 1 year high of $44.57. The business has a 50 day simple moving average of $35.90 and a two-hundred day simple moving average of $32.19. The firm has a market capitalization of $7.13 billion, a PE ratio of 47.56 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70.

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

Analyst Ratings Changes

ALKS has been the subject of a number of research reports. Truist Financial upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Wolfe Research initiated coverage on Alkermes in a report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price target for the company. Needham & Company LLC boosted their price target on Alkermes from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Bank of America boosted their price target on Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.40.

Hedge Funds Weigh In On Alkermes

A number of large investors have recently bought and sold shares of ALKS. Norges Bank bought a new position in Alkermes in the fourth quarter worth approximately $54,442,000. Baker BROS. Advisors LP raised its stake in Alkermes by 23.7% in the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after buying an additional 1,920,916 shares in the last quarter. UBS Group AG raised its stake in Alkermes by 237.4% in 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 in the last quarter. First Trust Advisors LP raised its stake in Alkermes by 104.2% in 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. raised its stake in Alkermes by 32.0% in 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. Institutional investors 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.