Alkermes (NASDAQ:ALKS) EVP David Joseph Gaffin Sells 2,035 Shares of Stock

Key Points

• Alkermes EVP David Gaffin sold 2,035 shares for about $93,956 at an average price of $46.17 under a pre-arranged Rule 10b5-1 plan. He retained 219,353 shares after the sale.
• Alkermes reported quarterly EPS of $0.09, beating the consensus estimate of a $0.08 loss, while revenue of $480.13 million exceeded expectations and rose 21.8% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $54.38; shares traded at $45.69 on the day described.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Gaffin sold 2,035 shares of the company's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $46.17, for a total transaction of $93,955.95. Following the transaction, the executive vice president owned 219,353 shares in the company, valued at $10,127,528.01. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 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 value 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%

Shares of NASDAQ:ALKS traded up $0.80 during midday trading on Tuesday, hitting $45.69. 2,328,578 shares of the company's stock were exchanged, compared to its average volume of 1,832,351. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. Alkermes plc has a 12 month low of $27.00 and a 12 month high of $55.67. The company has a market cap of $7.66 billion, a PE ratio of 104.39 and a beta of 0.32. The stock has a 50 day moving average price of $43.92 and a 200-day moving average price of $40.59.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.17. The business had revenue of $480.13 million for the quarter, compared to analysts' expectations of $463.48 million. Alkermes had a net margin of 3.96% and a return on equity of 4.15%. The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. On average, sell-side analysts anticipate that Alkermes plc will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Alkermes by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company's stock worth $159,850,000 after purchasing an additional 109,595 shares during the period. Commodore Capital LP grew its position in Alkermes by 18.3% during the first quarter. Commodore Capital LP now owns 4,200,000 shares of the company's stock valued at $148,512,000 after buying an additional 650,000 shares during the period. First Trust Advisors LP increased its holdings in Alkermes by 104.2% during the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company's stock worth $104,976,000 after buying an additional 1,514,783 shares during the last quarter. Affinity Asset Advisors LLC lifted its stake in Alkermes by 35.0% in the first quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company's stock valued at $47,736,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in Alkermes by 20.4% during the third quarter. Pictet Asset Management Holding SA now owns 1,009,318 shares of the company's stock valued at $41,012,000 after purchasing an additional 171,292 shares during the period. Hedge funds and other institutional investors own 95.21% of the company's stock.

Analyst Ratings Changes

ALKS has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Alkermes from $60.00 to $61.00 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Mizuho raised shares of Alkermes to a "strong-buy" rating in a report on Wednesday, September 16th. Robert W. Baird upped their target price on shares of Alkermes from $58.00 to $61.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $62.00 target price on shares of Alkermes in a report on Monday, September 21st. Finally, The Goldman Sachs Group began coverage on shares of Alkermes in a research report on Thursday, September 24th. They set a "neutral" rating and a $50.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.38.

About Alkermes

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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