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 firm’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $54.03, for a total transaction of $109,897.02. Following the transaction, the executive vice president owned 227,490 shares of the company’s stock, valued at approximately $12,291,284.70. The trade was a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Thursday, June 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $43.05, for a total transaction 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 transaction of $67,528.80.

Alkermes Trading Up 1.0%

ALKS traded up $0.56 during trading on Monday, reaching $55.14. 1,743,705 shares of the stock traded hands, compared to its average volume of 2,325,650. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average is $41.71 and its 200 day moving average is $34.90. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.37. The stock has a market capitalization of $9.19 billion, a PE ratio of 61.27 and a beta of 0.34.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Mizuho lifted their price target on Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial upgraded Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Bank of America reaffirmed an “underperform” rating on shares of Alkermes in a research note on Monday, June 29th. TD Cowen boosted their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, UBS Group raised their price objective on shares of Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.62.

Hedge Funds Weigh In On Alkermes

Several large investors have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Alkermes in the 4th quarter worth approximately $54,442,000. Baker BROS. Advisors LP boosted its holdings 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 acquiring an additional 1,920,916 shares in the last quarter. UBS Group AG grew its stake in shares of 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 acquiring an additional 1,790,729 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock valued at $104,976,000 after acquiring an additional 1,514,783 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after acquiring an additional 1,256,377 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.