Alkermes (NASDAQ:ALKS) EVP David Joseph Gaffin Sells 2,034 Shares of Stock

Alkermes plc (NASDAQ:ALKS) EVP David Gaffin sold 2,034 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $48.01, for a total transaction of $97,652.34. Following the completion of the sale, the executive vice president owned 223,422 shares in the company, valued at approximately $10,726,490.22. The trade was a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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, August 3rd, David Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $48.58, for a total value of $98,811.72.
• On Monday, July 6th, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $54.03, for a total value of $109,897.02.

Alkermes Price Performance

NASDAQ:ALKS opened at $46.88 on Friday. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $7.86 billion, a P/E ratio of 123.37 and a beta of 0.31. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $55.67. The business’s 50-day moving average is $50.74 and its 200 day moving average is $40.86.

Institutional Investors Weigh In On Alkermes

Several institutional investors have recently modified their holdings of ALKS. California State Teachers Retirement System increased its position in shares of Alkermes by 5,527.7% during the 2nd quarter. California State Teachers Retirement System now owns 10,343,402 shares of the company’s stock valued at $541,994,000 after purchasing an additional 10,159,607 shares during the last quarter. Baker BROS. Advisors LP lifted its position 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 during the last quarter. State Street Corp lifted its position in Alkermes by 10.9% in the fourth quarter. State Street Corp now owns 9,472,858 shares of the company’s stock worth $265,051,000 after buying an additional 932,507 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Alkermes by 6.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock worth $186,571,000 after buying an additional 375,500 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Alkermes by 32.0% during 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 during the period. 95.21% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their target price on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, June 9th. Needham & Company LLC boosted their price target on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alkermes in a research note on Friday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $65.00 price objective (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $63.00 price objective (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alkermes presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.56.

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.