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

Key Points

• Alkermes EVP David Gaffin sold 2,034 shares at an average price of $41.03, generating $83,455.02. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 0.91% to 221,388 shares.
• Alkermes shares rose 3.0% to $41.75, giving the company a market capitalization of approximately $7.0 billion. Institutional investors own a substantial 95.21% of the company’s outstanding stock.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $54.47, implying potential upside from the reported trading price.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Gaffin sold 2,034 shares of the business's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $41.03, for a total transaction of $83,455.02. Following the completion of the sale, the executive vice president directly owned 221,388 shares in the company, valued at $9,083,549.64. This trade represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Thursday, September 3rd, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $48.01, for a total transaction of $97,652.34.
• 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 shares were sold at an average price of $54.03, for a total transaction of $109,897.02.

Alkermes Trading Up 3.0%

NASDAQ ALKS traded up $1.21 on Friday, reaching $41.75. The stock had a trading volume of 2,252,753 shares, compared to its average volume of 2,153,272. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of 109.87 and a beta of 0.32. 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 12-month low of $27.00 and a 12-month high of $55.67. The stock has a fifty day moving average price of $47.04 and a two-hundred day moving average price of $42.77.

Institutional Investors Weigh In On Alkermes

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Alkermes during the 4th quarter worth approximately $54,442,000. Baker BROS. Advisors LP increased its holdings in shares of Alkermes by 23.7% in the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company's stock valued at $280,143,000 after purchasing an additional 1,920,916 shares during the period. First Trust Advisors LP increased its holdings in shares of Alkermes by 104.2% in the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company's stock valued at $104,976,000 after purchasing an additional 1,514,783 shares during the period. Commodore Capital LP raised its stake in shares of Alkermes by 18.3% during the first quarter. Commodore Capital LP now owns 4,200,000 shares of the company's stock worth $148,512,000 after purchasing an additional 650,000 shares during the last quarter. Finally, Affinity Asset Advisors LLC raised its stake in shares of Alkermes by 35.0% during the first quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company's stock worth $47,736,000 after purchasing an additional 350,000 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. HC Wainwright reiterated a "neutral" rating on shares of Alkermes in a report on Monday, September 21st. Royal Bank Of Canada restated an "outperform" rating and set a $56.00 target price on shares of Alkermes in a report on Tuesday, September 22nd. Stifel Nicolaus reaffirmed a "buy" rating and issued a $63.00 target price (up from $45.00) on shares of Alkermes in a research report on Monday, July 20th. Needham & Company LLC reiterated a "buy" rating and set a $62.00 price target on shares of Alkermes in a research note on Monday, September 21st. Finally, JPMorgan Chase & Co. boosted their price target 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.47.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. The company's portfolio addresses conditions including addiction, schizophrenia, bipolar disorder and amyotrophic lateral sclerosis (ALS), with an emphasis on long-acting injectable, extended-release and other drug-delivery technologies.

Its marketed products include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and prevent opioid dependence relapse; Aristada, a long-acting injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; Lybalvi, an oral combination of olanzapine and samidorphan for schizophrenia and bipolar I disorder; and Exservan, an oral film formulation of riluzole for ALS.

Founded in 1987, Alkermes is headquartered in Dublin, Ireland, with operations and corporate offices in the United States, including Waltham, Massachusetts.

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