Alkermes plc (NASDAQ:ALKS – Get Free Report) EVP David Gaffin sold 2,035 shares of Alkermes stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $46.17, for a total transaction of $93,955.95. Following the completion of the transaction, the executive vice president directly owned 219,353 shares in the company, valued at approximately $10,127,528.01. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Friday, October 2nd, David Gaffin sold 2,034 shares of Alkermes stock. The stock was sold at an average price of $41.03, for a total transaction of $83,455.02.
- 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.
Alkermes Price Performance
NASDAQ ALKS opened at $44.54 on Friday. Alkermes plc has a 1 year low of $27.00 and a 1 year high of $55.67. The company has a fifty day simple moving average of $43.77 and a 200 day simple moving average of $40.73. The company has a current ratio of 2.42, a quick ratio of 1.85 and a debt-to-equity ratio of 0.79. The company has a market cap of $7.48 billion, a P/E ratio of 1,529.67 and a beta of 0.32.
Alkermes (NASDAQ:ALKS – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.17. The firm had revenue of $480.13 million for the quarter, compared to the consensus estimate of $463.48 million. Alkermes had a negative net margin of 0.02% and a positive return on equity of 0.40%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. On average, sell-side analysts predict that Alkermes plc will post -0.57 EPS for the current year.
More Alkermes News
Here are the key news stories impacting Alkermes this week:
- Positive Sentiment: Alkermes reported third-quarter revenue of $480.1 million, up 21.8% year over year and above the $463.5 million consensus. EPS of $0.09 also beat expectations for a loss of $0.08. The company reiterated its fourth-quarter proprietary net sales outlook of $400 million to $420 million and expects alixorexton Phase III data in mid-2027. Alkermes Q3 results
- Positive Sentiment: Royal Bank of Canada raised its price target to $57 and maintained an “outperform” rating, signaling potential upside in the analyst’s view. RBC analyst rating
- Neutral Sentiment: Analyst views remain mixed: HC Wainwright raised its target to $50 but kept a “neutral” rating, while other recent coverage also points to differing opinions on healthcare stocks including Alkermes. Analyst sentiment report
- Neutral Sentiment: EVP David Gaffin sold 2,035 shares under a pre-arranged Rule 10b5-1 plan, leaving him with more than 219,000 shares; the scheduled nature of the sale makes it less indicative of a change in his outlook. Insider transaction report
- Negative Sentiment: Despite the quarterly beat, profit fell year over year, with EPS down from $0.49 in the prior-year quarter. A recent valuation analysis also cautioned that ALKS could be overvalued following the launch of the ALKS 7290 trial, potentially weighing on sentiment. Valuation analysis
Wall Street Analysts Forecast Growth
ALKS has been the subject of several research analyst reports. The Goldman Sachs Group began coverage on Alkermes in a research report on Thursday, September 24th. They set a “neutral” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Truist Financial began coverage on Alkermes in a research report on Friday, October 16th. They issued a “buy” rating and a $55.00 price target on the stock. Robert W. Baird set a $61.00 price target on Alkermes in a research report on Wednesday. Finally, Mizuho upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alkermes has an average rating of “Moderate Buy” and a consensus price target of $55.06.
Read Our Latest Research Report on Alkermes
Institutional Trading of Alkermes
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC bought a new stake in Alkermes in the third quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new position in Alkermes during the second quarter worth about $39,000. Versant Capital Management Inc lifted its stake in Alkermes by 33.9% during the second quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock worth $76,000 after purchasing an additional 366 shares during the period. Harbor Investment Advisory LLC bought a new position in Alkermes during the second quarter worth about $82,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Alkermes during the second quarter valued at approximately $104,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.
About Alkermes
Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.
The company’s marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.
Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.
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