Analysts Set Alkermes plc (NASDAQ:ALKS) Target Price at $38.46

Alkermes plc (NASDAQ:ALKS) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $38.46.

A number of equities analysts have commented on ALKS shares. Royal Bank of Canada started coverage on Alkermes in a research note on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 target price for the company. HC Wainwright restated a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft began coverage on Alkermes in a research note on Tuesday, February 11th. They issued a “buy” rating and a $40.00 target price for the company. Finally, The Goldman Sachs Group boosted their price objective on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 14th.

Alkermes Stock Up 2.0 %

Shares of ALKS stock opened at $34.60 on Friday. The business has a 50 day moving average of $32.97 and a two-hundred day moving average of $30.07. Alkermes has a 52 week low of $22.90 and a 52 week high of $36.45. The company has a market cap of $5.63 billion, a P/E ratio of 15.94, a PEG ratio of 2.20 and a beta of 0.62.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Analysts expect that Alkermes will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 100,918 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the sale, the executive vice president now owns 44,290 shares of the company’s stock, valued at $1,419,494.50. The trade was a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALKS. Venturi Wealth Management LLC bought a new position in shares of Alkermes in the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC increased its holdings in shares of Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after buying an additional 842 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after buying an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Alkermes by 558.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after buying an additional 2,502 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Alkermes in the fourth quarter valued at $98,000. Institutional investors own 95.21% of the company’s stock.

About Alkermes

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.