Alkermes plc (NASDAQ:ALKS) Receives $36.00 Consensus Target Price from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $36.00.

Several analysts have commented on ALKS shares. Mizuho lifted their price target on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. dropped their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. The Goldman Sachs Group lowered their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Finally, HC Wainwright reissued a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the sale, the executive vice president now directly owns 83,300 shares in the company, valued at approximately $2,505,664. This represents a 41.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 238,185 shares of company stock worth $7,498,117. 4.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkermes

Large investors have recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Alkermes in the fourth quarter valued at approximately $25,000. V Square Quantitative Management LLC bought a new position in Alkermes in the 3rd quarter worth approximately $29,000. Blue Trust Inc. increased its position in Alkermes by 2,231.5% in the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after acquiring an additional 1,629 shares during the period. Smartleaf Asset Management LLC raised its stake in Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after acquiring an additional 2,502 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Alkermes by 83.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after acquiring an additional 1,917 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Trading Up 0.5 %

Shares of Alkermes stock opened at $31.47 on Thursday. Alkermes has a fifty-two week low of $22.90 and a fifty-two week high of $32.88. The business’s fifty day moving average is $29.94 and its two-hundred day moving average is $28.47. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The firm has a market cap of $5.09 billion, a PE ratio of 16.14, a P/E/G ratio of 1.68 and a beta of 0.49.

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.