Alkermes plc (NASDAQ:ALKS) Receives $35.42 Average PT from Analysts

Alkermes plc (NASDAQ:ALKS) has been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $35.42.

A number of research firms have commented on ALKS. Mizuho increased their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and raised their price target for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $37.00 price target (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group cut their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, Cantor Fitzgerald cut their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th.

Alkermes Stock Up 0.0 %

ALKS stock opened at $30.51 on Wednesday. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.03 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes has a 12 month low of $22.90 and a 12 month high of $32.88. The firm has a 50-day moving average of $28.54 and a two-hundred day moving average of $27.02.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the transaction, the executive vice president now owns 83,300 shares of the company’s stock, valued at $2,505,664. This trade represents a 41.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at $732,964.05. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,738 shares of company stock worth $4,572,904. Insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in shares of Alkermes during the 3rd quarter worth $29,000. Signaturefd LLC lifted its position in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Alkermes in the second quarter valued at $116,000. GAMMA Investing LLC lifted its position in Alkermes by 83.8% in the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after acquiring an additional 1,917 shares during the last quarter. Finally, Archer Investment Corp increased its stake in shares of Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares during the period. 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.