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

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $34.57, for a total transaction of $70,315.38. Following the transaction, the executive vice president owned 233,592 shares of the company’s stock, valued at approximately $8,075,275.44. The trade was a 0.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $29.29, for a total transaction of $59,575.86.

Alkermes Stock Performance

Shares of Alkermes stock opened at $34.08 on Tuesday. The company has a market cap of $5.67 billion, a P/E ratio of 23.83, a PEG ratio of 8.69 and a beta of 0.44. Alkermes plc has a one year low of $25.17 and a one year high of $36.48. The firm has a fifty day moving average of $31.44 and a two-hundred day moving average of $30.45.

Alkermes (NASDAQ:ALKS) last announced 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 for the quarter, compared to analysts’ expectations of $380.44 million. Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, equities analysts predict that Alkermes plc will post 1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

ALKS has been the topic of several recent analyst reports. Bank of America upped their target price on shares of Alkermes from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Royal Bank Of Canada decreased their price target on Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, February 26th. Wolfe Research started coverage on Alkermes in a report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price target on the stock. Truist Financial upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company upped their price target on Alkermes from $37.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and a consensus price target of $43.93.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently added to or reduced their stakes in ALKS. Norges Bank acquired a new stake in Alkermes in the 4th quarter valued at about $54,442,000. Baker BROS. Advisors LP grew its stake in Alkermes by 23.7% in the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock valued at $280,143,000 after acquiring an additional 1,920,916 shares during the last quarter. UBS Group AG grew its stake in Alkermes by 237.4% in the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock valued at $71,206,000 after acquiring an additional 1,790,729 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Alkermes by 32.0% in the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after acquiring an additional 1,256,377 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Alkermes by 1,070.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,208,944 shares of the company’s stock valued at $36,268,000 after acquiring an additional 1,105,666 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

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.