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

Alkermes plc (NASDAQ:ALKS) EVP David Gaffin sold 2,034 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $48.01, for a total value of $97,652.34. Following the completion of the sale, the executive vice president directly owned 223,422 shares of the company’s stock, valued at approximately $10,726,490.22. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, 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 transaction 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 transaction of $109,897.02.

Alkermes Price Performance

Shares of Alkermes stock opened at $46.10 on Friday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $55.67. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 121.32 and a beta of 0.31. The company has a fifty day moving average of $50.56 and a 200-day moving average of $40.89. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALKS shares. Needham & Company LLC raised their price target on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Royal Bank Of Canada upped their price objective on shares of Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. TD Cowen increased their target price on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. boosted their price target on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alkermes in a report on Friday, August 7th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.56.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALKS. Royal Bank of Canada grew its stake in Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock worth $9,098,000 after purchasing an additional 148,696 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Alkermes during the first quarter valued at $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alkermes by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock valued at $15,927,000 after buying an additional 20,091 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Alkermes by 32.3% in the 2nd quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after buying an additional 3,394 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of Alkermes by 539.4% in the 2nd quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock worth $200,000 after buying an additional 5,885 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

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.