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

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $33.20, for a total value of $67,528.80. Following the sale, the executive vice president directly owned 231,558 shares in the company, valued at $7,687,725.60. This trade represents a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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, April 6th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was 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 Stock Performance

ALKS stock traded up $0.79 during trading on Monday, reaching $34.17. 2,860,335 shares of the company traded hands, compared to its average volume of 1,789,194. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.48. The business has a 50 day simple moving average of $31.44 and a 200 day simple moving average of $30.95. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 23.90 and a beta of 0.31.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. The business had revenue of $384.55 million during the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. As a group, research analysts forecast that Alkermes plc will post -0.69 EPS for the current year.

Institutional Trading of Alkermes

Institutional investors have recently bought and sold shares of the stock. Baker BROS. Advisors LP increased its stake in Alkermes by 23.7% during the 4th 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 in the last quarter. State Street Corp lifted its stake in shares of Alkermes by 10.9% during the fourth quarter. State Street Corp now owns 9,472,858 shares of the company’s stock worth $265,051,000 after buying an additional 932,507 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Alkermes by 6.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock valued at $186,571,000 after buying an additional 375,500 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after buying an additional 1,256,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Alkermes by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,412,783 shares of the company’s stock valued at $123,467,000 after acquiring an additional 714,787 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ALKS shares. HC Wainwright reissued a “neutral” rating and set a $43.00 target price on shares of Alkermes in a research report on Thursday, February 26th. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada reduced their price target on Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings upgraded Alkermes from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Finally, Wolfe Research assumed coverage on Alkermes in a research note on Monday, February 23rd. They set an “outperform” rating and a $45.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.29.

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.