Alkermes (NASDAQ:ALKS) EVP David Joseph Gaffin Sells 2,034 Shares of Stock

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the completion of the transaction, the executive vice president owned 229,524 shares in the company, valued at approximately $9,881,008.20. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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, May 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $33.20, for a total value of $67,528.80.
• On Monday, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $34.57, for a total value of $70,315.38.

Alkermes Stock Performance

Shares of ALKS stock opened at $43.38 on Friday. The stock has a market capitalization of $7.23 billion, a P/E ratio of 48.20 and a beta of 0.38. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $35.63 and its 200 day moving average is $32.11. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $44.57.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The company had revenue of $384.55 million for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. On average, sell-side analysts anticipate that Alkermes plc will post -0.43 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wolfe Research assumed coverage on Alkermes in a research report on Monday, February 23rd. They set an “outperform” rating and a $45.00 target price on the stock. Wall Street Zen downgraded Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Robert W. Baird increased their target price on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Zacks Research upgraded Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Needham & Company LLC increased their target price on Alkermes from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALKS. Assetmark Inc. increased its stake in Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after acquiring an additional 747 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Alkermes in the fourth quarter valued at $28,000. Johnson Financial Group Inc. bought a new position in Alkermes in the third quarter valued at $31,000. UMB Bank n.a. increased its stake in Alkermes by 57.6% in the fourth 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. Finally, Salomon & Ludwin LLC increased its stake in Alkermes by 115.6% in the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after acquiring an additional 667 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

About Alkermes

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.