Brokerages Set Alkermes plc (NASDAQ:ALKS) Price Target at $38.33

Alkermes plc (NASDAQ:ALKS) has received a consensus rating of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $38.33.

ALKS has been the topic of several analyst reports. UBS Group reiterated a “sector perform” rating on shares of Alkermes in a report on Monday, April 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. The Goldman Sachs Group lifted their price target on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 14th. HC Wainwright restated a “neutral” rating on shares of Alkermes in a research report on Friday, May 2nd. Finally, Robert W. Baird lifted their target price on Alkermes from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd.

Alkermes Stock Performance

Shares of ALKS opened at $31.27 on Friday. The stock has a fifty day moving average price of $30.85 and a two-hundred day moving average price of $30.60. Alkermes has a 52-week low of $22.90 and a 52-week high of $36.45. The company has a market cap of $5.16 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS) last released its earnings results on Thursday, May 1st. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.19). Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The firm had revenue of $306.51 million during the quarter, compared to analyst estimates of $307.53 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. As a group, research analysts predict that Alkermes will post 1.31 EPS for the current fiscal year.

Insider Activity at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the sale, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at approximately $2,056,298.75. The trade was a 71.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alkermes

Several institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Alkermes by 0.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,032 shares of the company’s stock valued at $2,877,000 after acquiring an additional 311 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Alkermes by 4.4% in the fourth quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock valued at $263,000 after buying an additional 384 shares in the last quarter. Hohimer Wealth Management LLC increased its position in shares of Alkermes by 3.8% in the first quarter. Hohimer Wealth Management LLC now owns 12,362 shares of the company’s stock valued at $408,000 after buying an additional 450 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Alkermes by 3.8% in the first quarter. PNC Financial Services Group Inc. now owns 12,352 shares of the company’s stock valued at $408,000 after buying an additional 451 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Alkermes by 54.4% in the first quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock valued at $49,000 after buying an additional 521 shares in 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.