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

Key Points

• Alkermes EVP David Gaffin sold 2,034 shares at an average price of $48.01, generating $97,652.34. The sale was made under a pre-arranged Rule 10b5-1 plan, leaving him with 223,422 shares.
• ALKS shares closed at $46.88, down $0.84, with the company valued at approximately $7.86 billion. Institutional investors own 95.21% of Alkermes’ outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $54.56; recent targets range as high as $65.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Gaffin sold 2,034 shares of the business's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $48.01, for a total transaction of $97,652.34. Following the completion of the sale, the executive vice president owned 223,422 shares in the company, valued at $10,726,490.22. This represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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

ALKS stock traded down $0.84 during trading on Thursday, hitting $46.88. 974,495 shares of the stock traded hands, compared to its average volume of 2,129,203. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 123.37 and a beta of 0.31. Alkermes plc has a one year low of $25.17 and a one year high of $55.67. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82. The company has a 50 day simple moving average of $50.86 and a 200 day simple moving average of $40.76.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC bought a new stake in shares of Alkermes in the 2nd quarter valued at $39,000. Cullen Frost Bankers Inc. acquired a new stake in Alkermes during the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. acquired a new position in shares of Alkermes in the third quarter valued at approximately $31,000. UMB Bank n.a. raised its holdings in shares of Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company's stock worth $34,000 after acquiring an additional 446 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Alkermes by 1,041.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company's stock worth $37,000 after purchasing an additional 1,208 shares during the period. Institutional investors and hedge funds own 95.21% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ALKS. Stifel Nicolaus restated a "buy" rating and set a $63.00 price target (up from $45.00) on shares of Alkermes in a research report on Monday, July 20th. Royal Bank Of Canada increased their price target 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 lifted their target price on Alkermes from $42.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, June 22nd. HC Wainwright reaffirmed a "neutral" rating on shares of Alkermes in a research note on Thursday, July 30th. Finally, Wells Fargo & Company boosted their price objective on Alkermes from $44.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $54.56.

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.

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