Key Points
- Alkermes EVP David Gaffin sold 2,034 shares at an average price of $48.01, totaling $97,652.34. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 0.90% to 223,422 shares.
- Alkermes shares opened at $46.88, compared with a 52-week range of $25.17 to $55.67. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $54.56.
- Institutional investors own approximately 95.21% of Alkermes, with several funds recently initiating or increasing positions in the company.
Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Gaffin sold 2,034 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $48.01, for a total value of $97,652.34. Following the transaction, the executive vice president owned 223,422 shares of the company's stock, valued at $10,726,490.22. This trade represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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, 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 Price Performance
Shares of ALKS stock opened at $46.88 on Friday. The stock has a 50 day moving average price of $50.74 and a 200 day moving average price of $40.86. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. The firm has a market capitalization of $7.86 billion, a P/E ratio of 123.37 and a beta of 0.31.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Mizuho upped their price target on shares of Alkermes from $53.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, July 2nd. Stifel Nicolaus reiterated a "buy" rating and set a $63.00 price objective (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a research report on Thursday, July 30th. JPMorgan Chase & Co. upped their target price on shares of Alkermes from $60.00 to $61.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $65.00 target price (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 issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and a consensus target price of $54.56.
View Our Latest Stock Analysis on ALKS
Hedge Funds Weigh In On Alkermes
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of Alkermes during the second quarter valued at $39,000. Cullen Frost Bankers Inc. purchased a new stake in Alkermes in the fourth quarter worth about $28,000. Johnson Financial Group Inc. bought a new position in Alkermes during the 3rd quarter worth about $31,000. UMB Bank n.a. grew its holdings in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company's stock worth $34,000 after acquiring an additional 446 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Alkermes by 1,041.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company's stock valued at $37,000 after purchasing an additional 1,208 shares during the period. Institutional investors own 95.21% of the company's stock.
Alkermes Company Profile
(
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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