Key Points
- Alkermes EVP David Gaffin sold 2,034 shares at an average price of $41.03, generating $83,455.02. The Rule 10b5-1 transaction reduced his direct holdings by 0.91% to 221,388 shares.
- Alkermes shares opened at $41.75, with a market capitalization of approximately $7.0 billion and a 52-week range of $27.00 to $55.67. Institutional investors own 95.21% of the company.
- Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $54.47; recent targets range as high as $65.
Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Gaffin sold 2,034 shares of the company's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $41.03, for a total transaction of $83,455.02. Following the completion of the sale, the executive vice president directly owned 221,388 shares in the company, valued at $9,083,549.64. This trade represents a 0.91% decrease in their position. The sale was disclosed in a filing 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 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 transaction of $97,652.34.
- On Monday, August 3rd, David Gaffin sold 2,034 shares of Alkermes stock. The stock was 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 shares were sold at an average price of $54.03, for a total value of $109,897.02.
Alkermes Price Performance
ALKS stock opened at $41.75 on Friday. The stock's 50 day moving average price is $46.81 and its 200 day moving average price is $42.76. The firm has a market cap of $7.00 billion, a P/E ratio of 109.87 and a beta of 0.32. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. Alkermes plc has a 1 year low of $27.00 and a 1 year high of $55.67.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of Alkermes in the second quarter valued at $113,000. Baird Financial Group Inc. acquired a new position in Alkermes in the second quarter valued at $2,791,000. Arizona State Retirement System lifted its position in Alkermes by 1.1% during the second quarter. Arizona State Retirement System now owns 43,580 shares of the company's stock worth $2,283,000 after buying an additional 494 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Alkermes during the second quarter worth about $1,733,000. Finally, Ameritas Advisory Services LLC purchased a new position in Alkermes during the second quarter worth about $39,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on ALKS. Robert W. Baird upped their price objective on Alkermes from $58.00 to $61.00 and gave the company an "outperform" rating in a research report on Tuesday, September 22nd. TD Cowen reiterated a "buy" rating on shares of Alkermes in a research report on Monday, September 21st. Mizuho raised shares of Alkermes to a "strong-buy" rating in a research note on Wednesday, September 16th. Piper Sandler restated an "overweight" rating and issued a $65.00 target price (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. Finally, Wells Fargo & Company upped their target price on shares of Alkermes from $44.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Alkermes has a consensus rating of "Moderate Buy" and a consensus price target of $54.47.
Get Our Latest Stock Report on Alkermes
About Alkermes
(
Get Free Report)
Alkermes plc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. The company's portfolio addresses conditions including addiction, schizophrenia, bipolar disorder and amyotrophic lateral sclerosis (ALS), with an emphasis on long-acting injectable, extended-release and other drug-delivery technologies.
Its marketed products include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and prevent opioid dependence relapse; Aristada, a long-acting injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; Lybalvi, an oral combination of olanzapine and samidorphan for schizophrenia and bipolar I disorder; and Exservan, an oral film formulation of riluzole for ALS.
Founded in 1987, Alkermes is headquartered in Dublin, Ireland, with operations and corporate offices in the United States, including Waltham, Massachusetts.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
