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

Key Points

• Alkermes EVP David Joseph Gaffin sold 2,034 shares on May 4 at an average price of $33.20 for $67,528.80 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 0.87% to 231,558 shares (≈$7.69M).
• The May sale is part of a recent pattern—Gaffin also sold 2,034 shares on April 6 (avg $34.57) and March 2 (avg $29.29), indicating repeated, planned insider dispositions.
• ALKS traded up 2.4% to $34.17 on higher-than-average volume, and analysts hold a consensus rating of Moderate Buy with an average price target of $44.29.

Alkermes plc (NASDAQ:ALKS - Get Free Report) EVP David Joseph Gaffin sold 2,034 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $33.20, for a total transaction of $67,528.80. Following the completion of the sale, the executive vice president directly owned 231,558 shares of the company's stock, valued at approximately $7,687,725.60. The trade was a 0.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $34.57, for a total value of $70,315.38.
• On Monday, March 2nd, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $29.29, for a total value of $59,575.86.

Alkermes Trading Up 2.4%

Shares of ALKS stock traded up $0.79 on Monday, reaching $34.17. 2,860,335 shares of the company's stock were exchanged, compared to its average volume of 1,789,194. Alkermes plc has a 52 week low of $25.17 and a 52 week high of $36.48. The stock has a market capitalization of $5.68 billion, a PE ratio of 23.90 and a beta of 0.31. The company's fifty day simple moving average is $31.44 and its 200 day simple moving average is $30.95.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The company had revenue of $384.55 million for the quarter. As a group, sell-side analysts predict that Alkermes plc will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALKS. Wall Street Zen downgraded shares of Alkermes from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Wells Fargo & Company upped their target price on shares of Alkermes from $37.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, February 26th. Weiss Ratings raised shares of Alkermes from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, April 27th. Piper Sandler decreased their price target on shares of Alkermes from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, March 24th. Finally, Wolfe Research started coverage on Alkermes in a research note on Monday, February 23rd. They issued an "outperform" rating and a $45.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $44.29.

Institutional Trading of Alkermes

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. increased its position in Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company's stock valued at $25,000 after purchasing an additional 747 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in shares of Alkermes in the 4th quarter worth approximately $28,000. Johnson Financial Group Inc. bought a new position in shares of Alkermes during the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its stake 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 valued at $34,000 after purchasing an additional 446 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its holdings in Alkermes by 395.6% during the third quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company's stock valued at $37,000 after buying an additional 989 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

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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