Alkermes (NASDAQ:ALKS) EVP Sells $70,315.38 in Stock
by Tristan Rich · The Markets DailyAlkermes plc (NASDAQ:ALKS – Get Free Report) EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $34.57, for a total value of $70,315.38. Following the transaction, the executive vice president directly owned 233,592 shares in the company, valued at approximately $8,075,275.44. This represents a 0.86% decrease in their ownership of the stock. 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, 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 Price Performance
NASDAQ ALKS traded down $0.76 on Monday, reaching $34.08. 2,022,168 shares of the company’s stock traded hands, compared to its average volume of 3,001,966. Alkermes plc has a 12 month low of $25.17 and a 12 month high of $36.48. The stock has a 50-day simple moving average of $31.44 and a 200 day simple moving average of $30.45. The stock has a market cap of $5.67 billion, a PE ratio of 23.54, a P/E/G ratio of 8.69 and a beta of 0.44.
Alkermes (NASDAQ:ALKS – Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). Alkermes had a return on equity of 14.91% and a net margin of 16.37%.The business had revenue of $384.55 million during the quarter, compared to the consensus estimate of $380.44 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was down 10.6% compared to the same quarter last year. As a group, analysts anticipate that Alkermes plc will post 1.31 EPS for the current year.
Analyst Upgrades and Downgrades
ALKS has been the subject of several recent research reports. Piper Sandler lowered 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. Wolfe Research initiated coverage on Alkermes in a research note on Monday, February 23rd. They set an “outperform” rating and a $45.00 price objective on the stock. Truist Financial raised Alkermes to a “strong-buy” rating in a research note on Wednesday, March 25th. Zacks Research cut Alkermes from a “hold” rating to a “strong sell” rating in a report on Friday, March 20th. Finally, Bank of America raised their price target on Alkermes from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.93.
View Our Latest Research Report on Alkermes
Institutional Investors Weigh In On Alkermes
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKS. Assetmark Inc. boosted 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 buying an additional 747 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Alkermes in the fourth quarter valued at about $28,000. Johnson Financial Group Inc. purchased a new position in shares of Alkermes in the third quarter valued at about $31,000. UMB Bank n.a. raised 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 acquiring an additional 446 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its stake in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after acquiring an additional 667 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.
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.