Key Points
- Alkermes EVP David Joseph Gaffin sold 2,034 shares on June 4 at an average price of $43.05, generating about $87,564. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and he still owns 229,524 shares.
- The stock has been trading near its 52-week high, opening at $43.38 after a 1.4% gain. Alkermes has a market cap of $7.23 billion and a 52-week range of $25.17 to $44.57.
- Wall Street remains generally bullish on ALKS, with an average rating of “Moderate Buy” and an average target price of $45.40. Recent analyst moves included Needham raising its target to $50 and Truist upgrading the stock to “strong-buy.”
Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the completion of the transaction, the executive vice president directly owned 229,524 shares in the company, valued at approximately $9,881,008.20. This represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $33.20, for a total value of $67,528.80.
- On Monday, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $34.57, for a total value of $70,315.38.
Alkermes Stock Up 1.4%
ALKS opened at $43.38 on Friday. The stock has a market cap of $7.23 billion, a PE ratio of 48.20 and a beta of 0.38. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $44.57. The business's fifty day simple moving average is $35.63 and its 200 day simple moving average is $32.11.
Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data 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. As a group, research analysts expect that Alkermes plc will post -0.43 earnings per share for the current fiscal year.
Institutional Trading of Alkermes
Several institutional investors and hedge funds have recently bought and sold shares of ALKS. Norges Bank purchased a new position in shares of Alkermes during the fourth quarter valued at approximately $54,442,000. Baker BROS. Advisors LP lifted its holdings in shares of Alkermes by 23.7% during the fourth 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. UBS Group AG lifted its holdings in shares of Alkermes by 237.4% during the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company's stock valued at $71,206,000 after purchasing an additional 1,790,729 shares during the last quarter. First Trust Advisors LP lifted 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 purchasing an additional 1,514,783 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted 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 purchasing an additional 1,256,377 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ALKS. Needham & Company LLC raised their price objective on Alkermes from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Truist Financial raised Alkermes to a "strong-buy" rating in a research note on Wednesday, March 25th. Wolfe Research began coverage on Alkermes in a research note on Monday, February 23rd. They set an "outperform" rating and a $45.00 price objective on the stock. HC Wainwright reaffirmed a "neutral" rating and set a $43.00 price objective on shares of Alkermes in a research note on Thursday, February 26th. Finally, Wall Street Zen cut Alkermes from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $45.40.
Read Our Latest Report on Alkermes
About Alkermes
(
Get Free Report)
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.
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