Alkermes (NASDAQ:ALKS) EVP Sells $97,652.34 in Stock

by · The Cerbat Gem

Alkermes plc (NASDAQ:ALKS – Get Free Report) EVP David Gaffin sold 2,034 shares of Alkermes 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. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $48.58, for a total value of $98,811.72.
  • On Monday, July 6th, David Gaffin sold 2,034 shares of Alkermes stock. The shares were sold at an average price of $54.03, for a total value of $109,897.02.

Alkermes Stock Down 1.8%

Shares of NASDAQ ALKS traded down $0.84 during trading hours on Thursday, hitting $46.88. The company had a trading volume of 974,495 shares, compared to its average volume of 2,129,203. The stock has a market capitalization of $7.86 billion, a P/E ratio of 123.37 and a beta of 0.31. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $50.86 and its 200-day moving average is $40.76. Alkermes plc has a 1-year low of $25.17 and a 1-year high of $55.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Alkermes during the fourth quarter worth $28,000. Johnson Financial Group Inc. acquired a new stake in Alkermes during the 3rd quarter worth about $31,000. UMB Bank n.a. raised its position in shares of Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after acquiring an additional 446 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Alkermes by 1,041.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock valued at $37,000 after purchasing an additional 1,208 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Alkermes during the 2nd quarter valued at about $39,000. Institutional investors own 95.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ALKS shares. Bank of America reissued an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. TD Cowen increased their target price on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Wells Fargo & Company boosted their price target on Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Royal Bank Of Canada upped their target price on Alkermes from $45.00 to $56.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 9th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $63.00 price target (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and an average price target of $54.56.

Check Out Our Latest Research Report on ALKS

About Alkermes

(Get Free Report)

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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