Key Points
- Alkermes EVP David Joseph Gaffin sold 2,034 shares on July 6 at an average price of $54.03, totaling about $109,897. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Gaffin still held 227,490 shares valued at roughly $12.29 million. The sale represented a 0.89% reduction in his position.
- Alkermes stock has been strong recently, trading near its 52-week high of $55.37 and above both its 50-day and 200-day moving averages. Analysts currently view the stock as a Moderate Buy with an average price target of $49.62.
Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Joseph Gaffin sold 2,034 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $54.03, for a total value of $109,897.02. Following the completion of the sale, the executive vice president directly owned 227,490 shares in the company, valued at approximately $12,291,284.70. The trade was a 0.89% 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, 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 value of $87,563.70.
- On Monday, May 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $33.20, for a total value of $67,528.80.
Alkermes Stock Performance
NASDAQ ALKS opened at $55.23 on Tuesday. The stock has a 50-day moving average of $42.14 and a two-hundred day moving average of $35.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.37. The company has a market cap of $9.21 billion, a P/E ratio of 61.37 and a beta of 0.34.
Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The firm had revenue of $384.55 million for the quarter. As a group, analysts anticipate that Alkermes plc will post -0.43 EPS for the current year.
Institutional Investors Weigh In On Alkermes
A number of institutional investors and hedge funds have recently bought and sold shares of ALKS. Norges Bank acquired a new stake in shares of Alkermes during the fourth quarter worth about $54,442,000. Baker BROS. Advisors LP lifted its stake in Alkermes by 23.7% in the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock valued at $280,143,000 after buying an additional 1,920,916 shares during the last quarter. UBS Group AG boosted its holdings 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 valued at $71,206,000 after acquiring an additional 1,790,729 shares during the period. First Trust Advisors LP grew its position 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 worth $104,976,000 after acquiring an additional 1,514,783 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Alkermes by 32.0% in the 4th 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 during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on ALKS. Bank of America reaffirmed an "underperform" rating on shares of Alkermes in a research report on Monday, June 29th. UBS Group lifted their price target on shares of Alkermes from $42.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Needham & Company LLC increased their price objective on shares of Alkermes from $54.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Wells Fargo & Company lifted their price objective on shares of Alkermes from $44.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Finally, Mizuho increased their target price on Alkermes from $53.00 to $65.00 and gave the company an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $49.62.
View Our Latest Research 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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