Alkermes (NASDAQ:ALKS) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Alkermes (NASDAQ:ALKS) from a hold rating to a buy rating in a research note released on Tuesday, Marketbeat Ratings reports. The firm currently has $36.00 price objective on the stock, up from their previous price objective of $25.00.

Several other research analysts have also recently weighed in on the stock. StockNews.com raised shares of Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. JPMorgan Chase & Co. dropped their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Robert W. Baird upped their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. HC Wainwright reissued a “neutral” rating and set a $37.00 target price on shares of Alkermes in a report on Friday, October 25th. Finally, Piper Sandler restated 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Alkermes Price Performance

NASDAQ:ALKS opened at $28.97 on Tuesday. The company has a market cap of $4.69 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.89 and a beta of 0.47. The firm’s fifty day moving average price is $27.65 and its two-hundred day moving average price is $26.03. Alkermes has a one year low of $22.06 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03.

Insider Buying and Selling

In other Alkermes news, EVP Craig C. Hopkinson sold 10,471 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the transaction, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALKS. First Trust Direct Indexing L.P. acquired a new position in Alkermes during the 1st quarter worth approximately $222,000. Daiwa Securities Group Inc. increased its holdings in shares of Alkermes by 380.5% during the first quarter. Daiwa Securities Group Inc. now owns 8,461 shares of the company’s stock worth $229,000 after buying an additional 6,700 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Alkermes by 24.9% in the 1st quarter. Jennison Associates LLC now owns 45,371 shares of the company’s stock valued at $1,228,000 after acquiring an additional 9,036 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Alkermes by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 146,052 shares of the company’s stock valued at $3,954,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Duality Advisers LP bought a new stake in Alkermes during the 1st quarter worth $1,905,000. Institutional investors own 95.21% of the company’s stock.

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.