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In a recent transaction involving Alkermes plc. (NASDAQ:ALKS), a pharmaceutical company with a market capitalization of $5.7 billion and currently trading near its 52-week high of $36.45, Samuel Joseph Parisi, the company’s VP of Finance and Interim Principal Accounting Officer, sold 3,743 ordinary shares on February 25, 2025. The shares were sold at an average price of $35.26 each, totaling approximately $131,978. This sale was conducted under a Rule 10b5-1 trading plan that Parisi adopted on September 11, 2024. According to InvestingPro data, the company maintains strong financial health with a current ratio of 3.04 and holds more cash than debt on its balance sheet.
In addition to the sale, Parisi engaged in several other transactions. On February 22 and 23, he acquired a total of 5,398 ordinary shares through the exercise of restricted stock units, which were fully vested or vested in installments. However, he also disposed of 1,655 shares to cover taxes at a price of $35.32 per share, amounting to $58,454. Following these transactions, Parisi now holds 7,717 shares directly. Based on InvestingPro analysis, the stock appears fairly valued, with 14+ additional ProTips and comprehensive financial metrics available in the Pro Research Report, offering deeper insights into the company’s valuation and growth prospects.
In other recent news, Alkermes reported strong financial results for the fourth quarter of 2024, exceeding both earnings per share (EPS) and revenue forecasts. The company’s EPS was $1.05, surpassing the anticipated $0.75, while revenue reached $430 million, well above the expected $380.75 million. Following this performance, Jefferies maintained its Buy rating on Alkermes with a $41.00 price target, highlighting the company’s ability to exceed expectations. Goldman Sachs also adjusted its outlook, raising the price target from $30.00 to $32.00, maintaining a Buy rating due to Alkermes’ strong fourth-quarter performance and promising pipeline.
Cantor Fitzgerald reaffirmed its Overweight rating with a $43.00 price target, emphasizing the company’s potential for significant data releases and pipeline expansion. Alkermes’ guidance for fiscal year 2025 projects EBITDA between $215 million and $245 million, reflecting a slight improvement over previous expectations. The company’s strategic focus on treatments for sleep-related disorders, including its Orexin agonist pipeline, has drawn investor interest. Analysts have noted Alkermes’ strong market position, particularly with its proprietary products like LYVOLVY, which saw significant sales growth in 2024.
Alkermes ended the year debt-free, with $825 million in cash, and reported total revenues exceeding $1.5 billion for 2024. The company’s robust financial health and strategic initiatives have positioned it favorably in the market, with upcoming clinical readouts expected to further influence its trajectory.
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