Alkermes (NASDAQ:ALKS) EVP Sells $87,563.70 in Stock

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the completion of the transaction, the executive vice president owned 229,524 shares in the company, valued at approximately $9,881,008.20. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $33.20, for a total transaction of $67,528.80.
• On Monday, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $34.57, for a total transaction of $70,315.38.

Alkermes Stock Up 1.4%

Alkermes stock traded up $0.62 during mid-day trading on Thursday, reaching $43.38. The stock had a trading volume of 2,307,154 shares, compared to its average volume of 2,253,623. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of 48.20 and a beta of 0.38. The company has a 50-day moving average price of $35.33 and a two-hundred day moving average price of $32.01. Alkermes plc has a one year low of $25.17 and a one year high of $44.57. 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 quarterly earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The company had revenue of $384.55 million for the quarter. On average, analysts expect that Alkermes plc will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALKS. Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Wolfe Research began coverage on Alkermes in a research report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 target price for the company. Needham & Company LLC boosted their target price on Alkermes from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.40.

Institutional Investors Weigh In On Alkermes

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baker BROS. Advisors LP increased its position in shares of Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after purchasing an additional 1,920,916 shares during the last quarter. State Street Corp increased its position in shares of Alkermes by 10.9% during the 4th quarter. State Street Corp now owns 9,472,858 shares of the company’s stock valued at $265,051,000 after purchasing an additional 932,507 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Alkermes by 6.0% during the 4th quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock valued at $186,571,000 after purchasing an additional 375,500 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alkermes by 32.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after purchasing an additional 1,256,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Alkermes by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock valued at $159,850,000 after acquiring an additional 109,595 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

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.