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

Alkermes plc (NASDAQ:ALKS) EVP David Gaffin sold 2,034 shares of the company’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $41.03, for a total transaction of $83,455.02. Following the transaction, the executive vice president owned 221,388 shares of the company’s stock, valued at approximately $9,083,549.64. The trade was a 0.91% 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 Thursday, September 3rd, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $48.01, for a total transaction of $97,652.34.
• 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 transaction of $98,811.72.
• On Monday, July 6th, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $54.03, for a total transaction of $109,897.02.

Alkermes Stock Performance

NASDAQ ALKS traded up $1.21 during trading hours on Friday, hitting $41.75. 2,252,753 shares of the stock were exchanged, compared to its average volume of 2,153,272. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 109.87 and a beta of 0.32. Alkermes plc has a 12-month low of $27.00 and a 12-month high of $55.67. The stock has a 50-day moving average of $47.04 and a 200 day moving average of $42.77. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALKS. Royal Bank Of Canada reissued an “outperform” rating and set a $56.00 target price on shares of Alkermes in a research note on Tuesday, September 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Alkermes in a research note on Friday, August 7th. Robert W. Baird upped their price objective on Alkermes from $58.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Wells Fargo & Company increased their price objective on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Mizuho upgraded Alkermes to a “strong-buy” rating in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.47.

Institutional Investors Weigh In On Alkermes

Several institutional investors have recently modified their holdings of the company. Baird Financial Group Inc. acquired a new position in Alkermes in the 2nd quarter valued at about $2,791,000. S&CO Inc. purchased a new position in Alkermes in the 2nd quarter valued at about $12,824,000. Quantinno Capital Management LP boosted its stake in shares of Alkermes by 131.1% during the 1st quarter. Quantinno Capital Management LP now owns 44,932 shares of the company’s stock worth $1,589,000 after purchasing an additional 25,492 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Alkermes during the 2nd quarter worth about $2,479,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Alkermes during the first quarter worth about $2,588,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. The company’s portfolio addresses conditions including addiction, schizophrenia, bipolar disorder and amyotrophic lateral sclerosis (ALS), with an emphasis on long-acting injectable, extended-release and other drug-delivery technologies.

Its marketed products include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and prevent opioid dependence relapse; Aristada, a long-acting injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; Lybalvi, an oral combination of olanzapine and samidorphan for schizophrenia and bipolar I disorder; and Exservan, an oral film formulation of riluzole for ALS.

Founded in 1987, Alkermes is headquartered in Dublin, Ireland, with operations and corporate offices in the United States, including Waltham, Massachusetts.