Alkermes (NASDAQ:ALKS) EVP Sells $70,315.38 in Stock

Key Points

• Alkermes EVP David Joseph Gaffin sold 2,034 shares on April 6 at $34.57 for $70,315.38 under a pre‑arranged Rule 10b5‑1 plan, and still directly owns 233,592 shares (about $8.08M), a 0.86% reduction in his position.
• Quarterly results disappointed: Alkermes reported $0.29 EPS versus $0.43 expected and revenue of $384.6M, down 10.6% year‑over‑year.
• High institutional ownership and analyst view: Institutions hold 95.21% of the stock and analysts’ consensus is a "Moderate Buy" with a $43.93 average price target.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $34.57, for a total value of $70,315.38. Following the sale, the executive vice president directly owned 233,592 shares in the company, valued at $8,075,275.44. This trade represents a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, March 2nd, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $29.29, for a total value of $59,575.86.

Alkermes Price Performance

Shares of ALKS traded down $0.76 during midday trading on Monday, hitting $34.08. 2,022,168 shares of the company traded hands, compared to its average volume of 3,001,966. The stock has a 50-day moving average of $31.44 and a 200-day moving average of $30.45. Alkermes plc has a one year low of $25.17 and a one year high of $36.48. The firm has a market cap of $5.67 billion, a P/E ratio of 23.54, a PEG ratio of 8.69 and a beta of 0.44.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.14). The firm had revenue of $384.55 million during the quarter, compared to the consensus estimate of $380.44 million. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. Alkermes's revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 earnings per share. Sell-side analysts forecast that Alkermes plc will post 1.31 EPS for the current fiscal year.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently made changes to their positions in ALKS. Baker BROS. Advisors LP grew its position in Alkermes by 23.7% in the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock worth $280,143,000 after acquiring an additional 1,920,916 shares in the last quarter. State Street Corp increased its stake in Alkermes by 10.9% in the fourth quarter. State Street Corp now owns 9,472,858 shares of the company's stock valued at $265,051,000 after acquiring an additional 932,507 shares during the last quarter. Renaissance Technologies LLC raised its position in Alkermes by 6.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company's stock valued at $186,571,000 after purchasing an additional 375,500 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company's stock worth $145,064,000 after purchasing an additional 1,256,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Alkermes by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,412,783 shares of the company's stock worth $123,467,000 after purchasing an additional 714,787 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Wall Street Analyst Weigh In

ALKS has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Alkermes from a "hold" rating to a "strong sell" rating in a research report on Friday, March 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of Alkermes in a research note on Monday, December 29th. Wolfe Research initiated coverage on Alkermes in a research report on Monday, February 23rd. They set an "outperform" rating and a $45.00 target price for the company. Royal Bank Of Canada decreased their target price on Alkermes from $47.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, February 26th. Finally, Wall Street Zen cut Alkermes from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.93.

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.

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