A senior insider sale at Alkermes has been disclosed to regulators. Chief Executive Officer Richard F. Pops sold 13,000 shares of the company's stock on October 15 at an average price of $76.70 a share, for a total value of $997,100, according to a Form 4 filing with the U.S. Securities and Exchange Commission reported by MarketBeat.
Following the sale, Pops retains a substantial holding of about 1.37 million shares, valued at roughly $105 million — meaning the transaction represents a small fraction of his overall position in the company he leads.
Insider sales are disclosed under SEC rules precisely so investors can see them, and they are made for many reasons — diversification, taxes, estate planning and pre-arranged trading plans among them. A single disclosed sale, on its own, is a data point about an executive's portfolio, not a verdict on a company's prospects.
Alkermes is a biopharmaceutical company whose products include treatments for addiction and schizophrenia. This report covers a regulatory disclosure only; it is not a recommendation to buy or sell any security.
