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 on Monday, March 2nd. The shares were sold at an average price of $29.29, for a total transaction of $59,575.86. Following the sale, the executive vice president owned 237,660 shares of the company’s stock, valued at approximately $6,961,061.40. The trade was a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alkermes Stock Down 3.2%

Shares of NASDAQ:ALKS opened at $28.35 on Friday. The company has a market cap of $4.72 billion, a PE ratio of 19.83, a P/E/G ratio of 7.30 and a beta of 0.53. Alkermes plc has a fifty-two week low of $25.17 and a fifty-two week high of $36.32. The firm has a 50-day simple moving average of $31.59 and a 200 day simple moving average of $30.23.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The company had revenue of $384.55 million for the quarter, compared to analyst estimates of $380.44 million. During the same quarter in the previous year, the company posted $1.05 earnings per share. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. Alkermes has set its FY 2026 guidance at -0.798–0.680 EPS. As a group, research analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

ALKS has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research report on Monday, December 29th. Truist Financial boosted their price objective on Alkermes from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, November 17th. Bank of America raised their target price on Alkermes from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Zacks Research lowered Alkermes from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 19th. Finally, Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.07.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in Alkermes by 20.2% during the 3rd quarter. American Century Companies Inc. now owns 4,397,471 shares of the company’s stock valued at $131,924,000 after purchasing an additional 740,248 shares during the period. Capital Fund Management S.A. purchased a new stake in Alkermes in the 2nd quarter worth about $1,142,000. Public Sector Pension Investment Board boosted its position in Alkermes by 11.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 710,700 shares of the company’s stock worth $21,321,000 after acquiring an additional 73,787 shares during the period. New York State Common Retirement Fund grew its stake in Alkermes by 38.9% during the 3rd quarter. New York State Common Retirement Fund now owns 195,999 shares of the company’s stock valued at $5,880,000 after acquiring an additional 54,915 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Alkermes by 3,908.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 524,795 shares of the company’s stock valued at $15,744,000 after purchasing an additional 511,702 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.