Insider Selling: Alkermes PLC (ALKS) CMO Sells 35,199 Shares of Stock

Alkermes PLC (NASDAQ:ALKS) CMO Elliot Ehrich sold 35,199 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $51.95, for a total transaction of $1,828,588.05. Following the sale, the chief marketing officer now directly owns 46,111 shares of the company’s stock, valued at approximately $2,395,466.45. The sale was disclosed in a filing with the SEC, which is available at this link.

Several analysts recently issued reports on ALKS shares. Leerink Swann reaffirmed a “buy” rating on shares of Alkermes PLC in a research note on Thursday, April 21st. Evercore ISI started coverage on shares of Alkermes PLC in a research note on Thursday, May 26th. They set a “buy” rating and a $59.00 price objective for the company. Jefferies Group reaffirmed a “buy” rating on shares of Alkermes PLC in a research note on Thursday, June 2nd. Credit Suisse Group AG reissued a “buy” rating on shares of Alkermes PLC in a research note on Thursday, June 2nd. Finally, Barclays PLC increased their price target on shares of Alkermes PLC from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $57.60.

Shares of Alkermes PLC (NASDAQ:ALKS) traded down 7.05% during trading on Thursday, hitting $48.13. 1,712,971 shares of the stock traded hands. Alkermes PLC has a 52-week low of $27.14 and a 52-week high of $80.71. The company’s 50 day moving average is $45.56 and its 200 day moving average is $40.23. The firm’s market cap is $7.28 billion.

Alkermes PLC (NASDAQ:ALKS) last announced its earnings results on Thursday, July 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $195.20 million for the quarter, compared to analyst estimates of $174.15 million. The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, equities research analysts predict that Alkermes PLC will post ($0.28) EPS for the current year.

Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.