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

Key Points

• Alkermes EVP David Joseph Gaffin sold 2,034 shares at an average price of $48.58, generating $98,811.72. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced his holdings by 0.89% to 225,456 shares.
• Alkermes shares rose 1.1% to $49.53, with the stock trading near its 52-week high of $55.67. The company has an $8.31 billion market capitalization, while 95.21% of its shares are held by institutional investors.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $54.56 price target. Recent bullish targets include $63 from Stifel Nicolaus and $65 from Piper Sandler.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $48.58, for a total value of $98,811.72. Following the completion of the sale, the executive vice president owned 225,456 shares in the company, valued at approximately $10,952,652.48. The trade was a 0.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Monday, July 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $54.03, for a total transaction of $109,897.02.
• On Thursday, June 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70.

Alkermes Trading Up 1.1%

ALKS traded up $0.54 on Monday, reaching $49.53. 1,835,722 shares of the company traded hands, compared to its average volume of 1,802,994. The company has a market cap of $8.31 billion, a P/E ratio of 130.35 and a beta of 0.34. 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 one year low of $25.17 and a one year high of $55.67. The firm has a fifty day simple moving average of $48.49 and a two-hundred day simple moving average of $38.38.

Analyst Ratings Changes

Several brokerages recently issued reports on ALKS. HC Wainwright reissued a "neutral" rating on shares of Alkermes in a research note on Thursday. Stifel Nicolaus restated a "buy" rating and set a $63.00 price target (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. JPMorgan Chase & Co. upped their price objective 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. Needham & Company LLC increased their target price on shares of Alkermes from $61.00 to $62.00 and gave the stock a "buy" rating in a report on Monday, July 13th. Finally, Piper Sandler reissued 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 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 assigned a Sell rating to the company. According to MarketBeat, Alkermes currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.56.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently made changes to their positions in ALKS. Norges Bank bought a new stake in Alkermes during the fourth quarter valued at about $54,442,000. Baker BROS. Advisors LP lifted its position in shares of Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock valued at $280,143,000 after buying an additional 1,920,916 shares during the last quarter. UBS Group AG boosted its holdings in shares of Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company's stock valued at $71,206,000 after buying an additional 1,790,729 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Alkermes by 104.2% in 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 in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company's stock worth $145,064,000 after buying an additional 1,256,377 shares during the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.