Analysts Set Alkermes plc (NASDAQ:ALKS) Price Target at $35.42

Alkermes plc (NASDAQ:ALKS) has earned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $35.42.

ALKS has been the subject of a number of analyst reports. Mizuho boosted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price target (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. Finally, Cantor Fitzgerald dropped their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th.

Insiders Place Their Bets

In other news, EVP Craig C. Hopkinson sold 10,471 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the sale, the executive vice president now owns 99,238 shares of the company’s stock, valued at $2,930,498.14. This trade represents a 9.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now directly owns 23,013 shares of the company’s stock, valued at $732,964.05. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,738 shares of company stock worth $4,572,904. 4.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. raised its holdings in Alkermes by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 120,006 shares of the company’s stock valued at $3,486,000 after acquiring an additional 2,903 shares in the last quarter. Tidal Investments LLC acquired a new stake in Alkermes during the third quarter worth $1,098,000. Wilmington Savings Fund Society FSB bought a new stake in Alkermes in the 3rd quarter valued at $582,000. Sanctuary Advisors LLC raised its stake in shares of Alkermes by 254.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock valued at $944,000 after buying an additional 23,541 shares in the last quarter. Finally, Hohimer Wealth Management LLC bought a new position in shares of Alkermes during the 3rd quarter worth about $315,000. 95.21% of the stock is currently owned by institutional investors.

Alkermes Stock Up 0.0 %

ALKS opened at $30.51 on Wednesday. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. Alkermes has a one year low of $22.90 and a one year high of $32.88. The business’s fifty day moving average is $28.51 and its two-hundred day moving average is $26.92.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.