Alkermes (NASDAQ:ALKS) Stock: Insider David Joseph Gaffin Sells 2,035 Shares

Alkermes plc (NASDAQ:ALKS) EVP David Gaffin sold 2,035 shares of the stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $46.17, for a total value of $93,955.95. Following the transaction, the executive vice president owned 219,353 shares of the company’s stock, valued at $10,127,528.01. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Friday, October 2nd, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $41.03, for a total value of $83,455.02.
• 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.

Alkermes Stock Performance

Alkermes stock traded up $0.80 during midday trading on Tuesday, reaching $45.69. The stock had a trading volume of 2,328,578 shares, compared to its average volume of 1,832,351. The firm has a market capitalization of $7.66 billion, a PE ratio of 104.39 and a beta of 0.32. Alkermes plc has a 12 month low of $27.00 and a 12 month high of $55.67. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average price is $43.92 and its 200 day moving average price is $40.59.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, November 4th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.17. The firm had revenue of $480.13 million during the quarter, compared to analyst estimates of $463.48 million. Alkermes had a net margin of 3.96% and a return on equity of 4.15%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business earned $0.49 earnings per share. As a group, research analysts predict that Alkermes plc will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALKS has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alkermes in a report on Friday, August 7th. Robert W. Baird boosted their target price on shares of Alkermes from $58.00 to $61.00 and gave the company an “outperform” rating in a report on Tuesday, September 22nd. Needham & Company LLC restated a “buy” rating and set a $62.00 target price on shares of Alkermes in a research report on Monday, September 21st. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Monday, September 21st. Finally, Truist Financial began coverage on Alkermes in a research report on Friday, October 16th. They issued a “buy” rating and a $55.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average target price of $54.38.

Hedge Funds Weigh In On Alkermes

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position 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 last quarter. Commodore Capital LP grew its holdings in shares of Alkermes by 18.3% during the first quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock worth $148,512,000 after purchasing an additional 650,000 shares in the last quarter. First Trust Advisors LP increased its position in shares of Alkermes by 104.2% in the first 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. Affinity Asset Advisors LLC increased its position in shares of Alkermes by 35.0% in the first quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company’s stock worth $47,736,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in Alkermes by 20.4% in the third quarter. Pictet Asset Management Holding SA now owns 1,009,318 shares of the company’s stock valued at $41,012,000 after purchasing an additional 171,292 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Alkermes Company Profile

Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.

The company’s marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.