Alkermes (NASDAQ:ALKS) Price Target Raised to $52.00

Alkermes (NASDAQ:ALKS) had its price target increased by Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a research report released on Thursday, Marketbeat reports. They currently have a buy rating on the stock.

ALKS has been the topic of several other reports. HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. The Goldman Sachs Group boosted their target price on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. UBS Group upgraded Alkermes from a “sell” rating to a “neutral” rating and increased their price target for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. Royal Bank of Canada began coverage on Alkermes in a research note on Thursday, March 13th. They set a “sector perform” rating and a $40.00 price target on the stock. Finally, StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.38.

Alkermes Trading Down 1.0 %

Shares of NASDAQ:ALKS opened at $33.21 on Thursday. The company has a market capitalization of $5.40 billion, a PE ratio of 15.30, a P/E/G ratio of 2.20 and a beta of 0.62. Alkermes has a 12-month low of $22.90 and a 12-month high of $36.45. The business’s fifty day simple moving average is $33.45 and its 200-day simple moving average is $30.29.

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

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the transaction, the executive vice president now owns 57,875 shares of the company’s stock, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALKS. Advisors Asset Management Inc. grew its position in shares of Alkermes by 21.1% in the third quarter. Advisors Asset Management Inc. now owns 10,158 shares of the company’s stock valued at $284,000 after purchasing an additional 1,771 shares during the period. Citigroup Inc. increased its stake in Alkermes by 41.1% during the 3rd quarter. Citigroup Inc. now owns 224,858 shares of the company’s stock worth $6,294,000 after buying an additional 65,536 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Alkermes during the third quarter valued at approximately $439,000. Daiwa Securities Group Inc. lifted its position in shares of Alkermes by 56.9% in the third quarter. Daiwa Securities Group Inc. now owns 13,241 shares of the company’s stock valued at $371,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Alkermes by 7.5% in the third quarter. Fisher Asset Management LLC now owns 260,785 shares of the company’s stock worth $7,299,000 after acquiring an additional 18,147 shares during the last quarter. Hedge funds and other 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.