Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $83,455.02 in Stock

Alkermes plc (NASDAQ:ALKS) EVP David Gaffin sold 2,034 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $41.03, for a total value of $83,455.02. Following the completion of the sale, the executive vice president directly owned 221,388 shares in the company, valued at approximately $9,083,549.64. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Thursday, September 3rd, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $48.01, for a total value of $97,652.34.
• 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 Stock Performance

Shares of Alkermes stock opened at $41.75 on Monday. The business has a 50-day moving average of $46.81 and a 200 day moving average of $42.87. Alkermes plc has a 12 month low of $27.00 and a 12 month high of $55.67. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 109.87 and a beta of 0.32. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $63.00 price objective (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. Royal Bank Of Canada reissued an “outperform” rating and issued a $56.00 price target on shares of Alkermes in a research report on Tuesday, September 22nd. Piper Sandler restated an “overweight” rating and issued a $65.00 price target (up from $43.00) on shares of Alkermes in a research note on Tuesday, July 28th. Bank of America restated an “underperform” rating on shares of Alkermes in a research note on Monday, June 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $62.00 price objective on shares of Alkermes in a research report on Monday, September 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Alkermes has a consensus rating of “Moderate Buy” and a consensus target price of $54.47.

Institutional Trading of Alkermes

Large investors have recently made changes to their positions in the company. Baker BROS. Advisors LP grew its holdings in Alkermes by 23.7% during the 4th 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. Dimensional Fund Advisors LP increased its position in shares of Alkermes by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock valued at $159,850,000 after purchasing an additional 109,595 shares during the last quarter. Commodore Capital LP raised its holdings in shares of Alkermes by 18.3% in the 1st quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock valued at $148,512,000 after purchasing an additional 650,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alkermes by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,080,776 shares of the company’s stock valued at $114,198,000 after purchasing an additional 19,382 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Alkermes by 104.2% during the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after purchasing an additional 1,514,783 shares during 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 and commercializing medicines for central nervous system diseases. The company’s portfolio addresses conditions including addiction, schizophrenia, bipolar disorder and amyotrophic lateral sclerosis (ALS), with an emphasis on long-acting injectable, extended-release and other drug-delivery technologies.

Its marketed products include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and prevent opioid dependence relapse; Aristada, a long-acting injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; Lybalvi, an oral combination of olanzapine and samidorphan for schizophrenia and bipolar I disorder; and Exservan, an oral film formulation of riluzole for ALS.

Founded in 1987, Alkermes is headquartered in Dublin, Ireland, with operations and corporate offices in the United States, including Waltham, Massachusetts.