Insider Selling: Alkermes (NASDAQ:ALKS) EVP Sells $87,563.70 in Stock

Alkermes plc (NASDAQ:ALKS) EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $43.05, for a total value of $87,563.70. Following the completion of the sale, the executive vice president owned 229,524 shares of the company’s stock, valued at $9,881,008.20. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, May 4th, David Joseph Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $33.20, for a total value of $67,528.80.
• 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.

Alkermes Trading Down 1.3%

Shares of ALKS stock opened at $42.80 on Friday. Alkermes plc has a 52-week low of $25.17 and a 52-week high of $44.57. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27. The firm has a market capitalization of $7.13 billion, a PE ratio of 47.56 and a beta of 0.38. The stock has a fifty day simple moving average of $35.90 and a two-hundred day simple moving average of $32.19.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $384.55 million during the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. On average, analysts predict that Alkermes plc will post -0.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALKS. HC Wainwright restated a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a research report on Thursday, February 26th. Weiss Ratings lowered Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wolfe Research began coverage on Alkermes in a research report on Monday, February 23rd. They set an “outperform” rating and a $45.00 price objective for the company. Wall Street Zen lowered Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Bank of America raised their price objective on Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and an average price target of $45.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP purchased a new position in Alkermes in the first quarter worth about $855,000. Stempoint Capital LP purchased a new position in Alkermes in the first quarter worth about $2,846,000. Janus Henderson Group PLC grew its position in Alkermes by 5.6% in the first quarter. Janus Henderson Group PLC now owns 154,016 shares of the company’s stock worth $5,447,000 after acquiring an additional 8,212 shares in the last quarter. Amundi grew its position in Alkermes by 99.8% in the first quarter. Amundi now owns 64,710 shares of the company’s stock worth $2,288,000 after acquiring an additional 32,327 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Alkermes by 33.5% in the first quarter. EverSource Wealth Advisors LLC now owns 3,278 shares of the company’s stock worth $116,000 after acquiring an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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.