Alkermes (NASDAQ:ALKS) Price Target Raised to $40.00

Alkermes (NASDAQ:ALKS) had its target price upped by Mizuho from $35.00 to $40.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. The Goldman Sachs Group reduced their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a report on Sunday, July 28th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and lifted their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. Finally, Robert W. Baird boosted their target price on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.42.

Alkermes Trading Down 0.6 %

Shares of NASDAQ:ALKS opened at $28.19 on Wednesday. The firm has a fifty day moving average of $27.79 and a two-hundred day moving average of $26.22. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes has a 12-month low of $22.06 and a 12-month high of $32.88. The firm has a market capitalization of $4.56 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 58,996 shares of Alkermes stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the transaction, the executive vice president now directly owns 83,300 shares in the company, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.89% of the stock is owned by insiders.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. lifted its holdings in shares of Alkermes by 10.1% during the first quarter. Sei Investments Co. now owns 77,942 shares of the company’s stock worth $2,110,000 after buying an additional 7,178 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Alkermes by 8.0% in the first quarter. ProShare Advisors LLC now owns 45,172 shares of the company’s stock worth $1,223,000 after acquiring an additional 3,350 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Alkermes by 9.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company’s stock worth $1,459,000 after acquiring an additional 4,410 shares during the period. Acadian Asset Management LLC raised its stake in Alkermes by 70.6% during the 1st quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock valued at $697,000 after purchasing an additional 10,671 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Alkermes by 206.1% in the 1st quarter. Edgestream Partners L.P. now owns 79,609 shares of the company’s stock valued at $2,155,000 after purchasing an additional 53,600 shares during the period. Institutional investors and hedge funds 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.