Alkermes plc (NASDAQ:ALKS) Receives Consensus Rating of “Moderate Buy” from Analysts

Alkermes plc (NASDAQ:ALKS) has been given an average rating of “Moderate Buy” by the seventeen research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $46.1333.

Several brokerages have recently weighed in on ALKS. Robert W. Baird raised their price objective on Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Truist Financial upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Wall Street Zen cut Alkermes from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler decreased their price objective on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, Bank of America raised their price objective on Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, April 9th.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.67, for a total value of $375,030.00. Following the completion of the sale, the executive vice president directly owned 77,389 shares in the company, valued at approximately $3,224,799.63. This trade represents a 10.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the completion of the sale, the director owned 25,680 shares of the company’s stock, valued at $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 35,102 shares of company stock worth $1,310,828. Insiders own 4.59% of the company’s stock.

Institutional Investors Weigh In On Alkermes

Several hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its stake in Alkermes by 2.7% in the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after purchasing an additional 315 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Alkermes by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock valued at $289,000 after purchasing an additional 351 shares during the last quarter. Orion Porfolio Solutions LLC lifted its stake in Alkermes by 4.5% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock valued at $263,000 after purchasing an additional 376 shares during the last quarter. Horizon Investments LLC lifted its stake in Alkermes by 0.9% in the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after purchasing an additional 387 shares during the last quarter. Finally, AMG National Trust Bank lifted its stake in Alkermes by 0.6% in the 3rd quarter. AMG National Trust Bank now owns 60,175 shares of the company’s stock valued at $1,805,000 after purchasing an additional 388 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $44.28 on Friday. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 49.20 and a beta of 0.38. The business has a 50-day moving average of $37.10 and a 200-day moving average of $32.71. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. Alkermes has a fifty-two week low of $25.17 and a fifty-two week high of $45.76.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The company had revenue of $384.55 million during the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. As a group, sell-side analysts predict that Alkermes will post -0.43 earnings per share for the current fiscal year.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.