Alkermes plc (NASDAQ:ALKS) Receives Average Rating of “Moderate Buy” from Analysts

Alkermes plc (NASDAQ:ALKS) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $36.00.

ALKS has been the topic of a number of research analyst reports. Cantor Fitzgerald cut their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their target price on 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 reissued an “overweight” rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Mizuho raised their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th.

Insider Transactions at Alkermes

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

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of Alkermes during the 3rd quarter worth $29,000. GAMMA Investing LLC raised its position in Alkermes by 83.8% in the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after acquiring an additional 1,917 shares during the period. Archer Investment Corp boosted its stake in Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after acquiring an additional 1,000 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes during the 2nd quarter valued at approximately $116,000. Finally, KBC Group NV increased its stake in shares of Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after purchasing an additional 774 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 1.0 %

NASDAQ:ALKS opened at $29.04 on Friday. Alkermes has a 52 week low of $22.90 and a 52 week high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The firm’s fifty day moving average is $29.08 and its 200-day moving average is $27.54. The firm has a market cap of $4.70 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.03 and a beta of 0.49.

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.