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Samuel Joseph Parisi, Vice President of Finance and Interim Principal Accounting Officer at Alkermes plc. (NASDAQ:ALKS), recently sold 1,938 shares of the company on February 28, 2025. The shares were sold at a price of $34.00 each, amounting to a total sale of $65,892. This transaction was part of a pre-established trading plan under Rule 10b5-1, which Parisi adopted on September 11, 2024. The sale comes as Alkermes, now valued at $5.57 billion, trades near its 52-week high of $36.45. According to InvestingPro analysis, the stock appears slightly overvalued at current levels.
In addition to the sale, Parisi executed other transactions on February 26, 2025. He acquired 2,746 ordinary shares through a restricted stock unit award, with each unit representing a right to receive one share. The same day, Parisi disposed of 808 shares at a price of $34.795 per share, totaling $28,114. These transactions occur against a backdrop of strong company performance, with InvestingPro data showing management’s aggressive share buyback program and the company maintaining a GREAT financial health score.
Following these transactions, Parisi’s direct ownership stands at 7,717 shares. The company’s strong financial position is reflected in its high shareholder yield and robust balance sheet, with more cash than debt. For deeper insights into Alkermes’ valuation and 14 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Alkermes reported strong financial results for the fourth quarter of 2024, surpassing expectations with total revenues of $430 million, compared to the consensus estimate of $356 million. The company’s non-GAAP EPS of $1.04 exceeded the $0.72 consensus estimate, showcasing a robust finish to the fiscal year. Jefferies reiterated a Buy rating with a $41 price target following these results, highlighting confidence in the company’s performance and future pipeline. Goldman Sachs also adjusted its outlook on Alkermes, increasing the price target from $30 to $32, while maintaining a Buy rating, citing the company’s strategic execution and promising pipeline. Cantor Fitzgerald maintained an Overweight rating with a $43 target, emphasizing Alkermes’ stock as an attractive long-term investment opportunity. The firm noted the company’s strategic positioning in the expanding OX2Rag pipeline sector, which could lead to further pipeline expansion and acquisitions. Alkermes’ financial guidance for 2025 includes an EBITDA range of $215 million to $245 million, reflecting slight improvements over previous expectations. The company remains focused on advancing its Orexin agonist pipeline, with key data releases anticipated in the second half of 2025.
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