Alkermes plc (NASDAQ:ALKS) Senior Vice President and Chief Commercial Officer, Christian Todd Nichols, has sold 10,417 ordinary shares of the company, according to a recent SEC filing. The transaction, dated March 18, 2024, totaled approximately $292,739, with the shares being sold at a weighted average price of $28.1021 each.
The sale was conducted under a prearranged trading plan known as a Rule 10b5-1 plan, which Nichols had adopted on December 14, 2023. These plans allow company insiders to set up a schedule for selling shares over time, reducing the potential for any accusations of trading on insider information.
Investors interested in the specifics of the sale may note that the shares were sold in multiple transactions at prices ranging from $27.87 to $28.58. The exact number of shares sold at each price point is available upon request from the issuer, any security holder, or the SEC staff.
Following the sale, Nichols still owns a substantial number of Alkermes shares, with his holdings totaling 65,911 ordinary shares. This indicates a continued vested interest in the company’s success, despite the recent sale.
Alkermes plc, headquartered in Dublin, Ireland, is a pharmaceutical company specializing in the development of therapies for central nervous system diseases, addiction, and other disorders. The company's stock trades on the NASDAQ under the ticker symbol ALKS.
InvestingPro Insights
In the wake of the recent share sale by Alkermes plc's Senior Vice President and Chief Commercial Officer, Christian Todd Nichols, investors may be keen to understand the company's financial health and future prospects. According to InvestingPro data, Alkermes boasts a market capitalization of $4.6 billion and an attractive price-to-earnings (P/E) ratio of 12.92, which has adjusted to an even more compelling 8.77 based on last twelve months as of Q4 2023. This could suggest that the company is undervalued relative to its earnings.
Additionally, Alkermes has demonstrated significant revenue growth, with a 49.61% increase in the last twelve months as of Q4 2023, indicating a robust expansion in its financial performance. The company’s gross profit margin stands at an impressive 84.79%, reflecting its strong ability to control costs and generate profits from its revenues.
InvestingPro Tips highlight that four analysts have revised their earnings estimates upwards for the upcoming period, which may signal confidence in Alkermes' financial trajectory. Moreover, the company's valuation implies a strong free cash flow yield, and its cash flows can sufficiently cover interest payments, suggesting a healthy financial position. For investors looking for more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/ALKS. With these insights, investors can further explore the company's potential and make informed decisions. Don't forget to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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