Alkermes plc (NASDAQ:ALKS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Alkermes plc (NASDAQ:ALKS) has been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $49.6250.

Several research analysts have recently issued reports on ALKS shares. Mizuho upped their target price on shares of Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. TD Cowen lifted their price target on shares of Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Truist Financial raised shares of Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Bank of America restated an “underperform” rating on shares of Alkermes in a research note on Monday, June 29th. Finally, Wells Fargo & Company raised their price objective on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, June 29th.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total transaction of $463,590.00. Following the transaction, the executive vice president owned 73,389 shares in the company, valued at $3,780,267.39. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $54.03, for a total value of $109,897.02. Following the transaction, the executive vice president directly owned 227,490 shares in the company, valued at approximately $12,291,284.70. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 35,102 shares of company stock valued at $1,494,410 in the last three months. 4.59% of the stock is currently owned by company insiders.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently bought and sold shares of ALKS. Baker BROS. Advisors LP boosted its stake in Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after purchasing an additional 1,920,916 shares during the period. State Street Corp increased its stake in Alkermes by 10.9% in the fourth quarter. State Street Corp now owns 9,472,858 shares of the company’s stock valued at $265,051,000 after purchasing an additional 932,507 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Alkermes by 6.0% in the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock valued at $186,571,000 after buying an additional 375,500 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alkermes by 32.0% in the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock valued at $145,064,000 after buying an additional 1,256,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Alkermes by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock worth $159,850,000 after buying an additional 109,595 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

ALKS stock opened at $54.29 on Thursday. The business has a 50 day moving average price of $42.99 and a 200 day moving average price of $35.46. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 60.32 and a beta of 0.34. Alkermes has a fifty-two week low of $25.17 and a fifty-two week high of $55.67.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The company had revenue of $384.55 million for the quarter. Equities research analysts anticipate that Alkermes will post -0.42 earnings per share for the current fiscal year.

About Alkermes

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.