Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total value of $98,811.72. Following the transaction, the executive vice president owned 225,456 shares of the company's stock, valued at $10,952,652.48. The trade was a 0.89% 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 Monday, July 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $54.03, for a total value of $109,897.02.
- 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 transaction of $87,563.70.
Alkermes Price Performance
NASDAQ ALKS opened at $49.53 on Tuesday. 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 company has a market cap of $8.31 billion, a PE ratio of 130.35 and a beta of 0.34. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $55.67. The firm's 50-day simple moving average is $48.49 and its two-hundred day simple moving average is $38.38.
Key Alkermes News
Here are the key news stories impacting Alkermes this week:
- Positive Sentiment: Analysts have assigned Alkermes a consensus rating of “Moderate Buy,” indicating that Wall Street’s overall stance remains favorable toward the company and its outlook. Alkermes Receives Consensus Recommendation of Moderate Buy
- Neutral Sentiment: HC Wainwright published an estimate for Alkermes’ third-quarter earnings. The report could influence trading as investors assess whether upcoming results can support the company’s premium valuation, although the specific estimate was not provided. HC Wainwright Estimates Alkermes' Q3 Earnings
- Negative Sentiment: Director Nancy Lynn Md Snyderman sold 44,472 ALKS shares for approximately $2.24 million, reducing her direct ownership by about 74%. The sizable sale may raise concern about insider confidence, although the filing does not establish that the transaction reflects a negative view of the business. SEC insider transaction filing
- Negative Sentiment: EVP Craig C. Hopkinson sold 9,000 shares valued at roughly $437,000, cutting his direct holdings by 11.48%. The sale was made under a pre-arranged Rule 10b5-1 trading plan, which reduces its significance as a discretionary bearish signal. SEC insider transaction filing
- Negative Sentiment: EVP David Joseph Gaffin sold 2,034 shares for approximately $99,000, reducing ownership by 0.89%. This transaction also occurred under a pre-arranged Rule 10b5-1 plan and is relatively small compared with his remaining stake. SEC insider transaction filing
Analysts Set New Price Targets
Several research analysts recently commented on ALKS shares. Weiss Ratings downgraded shares of Alkermes from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a report on Thursday. Bank of America restated an "underperform" rating on shares of Alkermes in a research report on Monday, June 29th. TD Cowen raised their price target on Alkermes from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, June 22nd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $65.00 price target (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $54.56.
View Our Latest Report on ALKS
Institutional Investors Weigh In On Alkermes
Several large investors have recently added to or reduced their stakes in ALKS. Cullen Frost Bankers Inc. bought a new position in Alkermes in the 4th quarter worth about $28,000. Johnson Financial Group Inc. bought a new stake in shares of Alkermes during the 3rd quarter valued at about $31,000. UMB Bank n.a. boosted its position in shares of Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company's stock valued at $34,000 after acquiring an additional 446 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company's stock worth $35,000 after purchasing an additional 667 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Alkermes by 1,041.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company's stock worth $37,000 after purchasing an additional 1,208 shares in the last quarter. Institutional investors own 95.21% of the company's stock.
Alkermes Company Profile
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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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