Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Gaffin sold 2,035 shares of the business's stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $46.17, for a total value of $93,955.95. Following the sale, the executive vice president owned 219,353 shares in the company, valued at $10,127,528.01. The trade was a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Friday, October 2nd, David Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $41.03, for a total transaction of $83,455.02.
- On Thursday, September 3rd, David Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $48.01, for a total transaction of $97,652.34.
Alkermes Stock Up 1.8%
ALKS stock opened at $45.69 on Wednesday. The firm has a 50 day moving average of $43.92 and a 200 day moving average of $40.59. The stock has a market capitalization of $7.66 billion, a PE ratio of 104.39 and a beta of 0.32. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. Alkermes plc has a 52 week low of $27.00 and a 52 week high of $55.67.
Alkermes (NASDAQ:ALKS - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.17. The company had revenue of $480.13 million for the quarter, compared to the consensus estimate of $463.48 million. Alkermes had a net margin of 3.96% and a return on equity of 4.15%. Alkermes's revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. Sell-side analysts forecast that Alkermes plc will post -0.57 earnings per share for the current year.
Analyst Ratings Changes
ALKS has been the subject of several research reports. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a research note on Monday, September 21st. JPMorgan Chase & Co. upped their target price on Alkermes from $60.00 to $61.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Mizuho upgraded Alkermes to a "strong-buy" rating in a research note on Wednesday, September 16th. Truist Financial began coverage on Alkermes in a research note on Friday, October 16th. They set a "buy" rating and a $55.00 price target on the stock. Finally, Robert W. Baird increased their price objective on Alkermes from $58.00 to $61.00 and gave the company an "outperform" rating in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $54.38.
Get Our Latest Report on Alkermes
Trending Headlines about Alkermes
Here are the key news stories impacting Alkermes this week:
- Positive Sentiment: Alkermes earned $0.09 per share, versus analysts’ expectation of a $0.08 loss, and revenue of $480.1 million topped the $463.5 million consensus estimate. Revenue grew 21.8% year over year. The earnings and sales beats may support investor confidence. Article: Alkermes Surpasses Q3 Earnings and Revenue Estimates
- Neutral Sentiment: EVP David Gaffin sold 2,035 shares for about $94,000, a 0.92% reduction in his holdings. The sale was made under a pre-arranged Rule 10b5-1 trading plan, which makes it less suggestive of a discretionary change in outlook. SEC Form 4
- Negative Sentiment: Despite the quarterly beat, EPS was down from $0.49 in the year-ago quarter, a notable year-over-year decline that could temper enthusiasm about the results. Article: Alkermes Q3 Earnings Metrics
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Alkermes by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company's stock valued at $159,850,000 after purchasing an additional 109,595 shares during the last quarter. Commodore Capital LP grew its position in Alkermes by 18.3% during the 1st quarter. Commodore Capital LP now owns 4,200,000 shares of the company's stock worth $148,512,000 after purchasing an additional 650,000 shares during the period. First Trust Advisors LP raised its stake in shares of Alkermes by 104.2% during the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company's stock valued at $104,976,000 after buying an additional 1,514,783 shares during the last quarter. Affinity Asset Advisors LLC raised its stake in shares of Alkermes by 35.0% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company's stock valued at $47,736,000 after buying an additional 350,000 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Alkermes by 20.4% in the 3rd quarter. Pictet Asset Management Holding SA now owns 1,009,318 shares of the company's stock valued at $41,012,000 after buying an additional 171,292 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.
About Alkermes
(
Get Free Report)
Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.
The company's marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.
Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.
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