Alkermes (NASDAQ:ALKS) Price Target Raised to $40.00 at Mizuho

Alkermes (NASDAQ:ALKS - Free Report) had its price target boosted by Mizuho from $35.00 to $40.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also issued reports on ALKS. Stifel Nicolaus raised Alkermes from a "hold" rating to a "buy" rating and raised their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Robert W. Baird boosted their price target on Alkermes from $37.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, July 25th. HC Wainwright reissued a "neutral" rating and issued a $37.00 price target on shares of Alkermes in a research note on Friday, October 25th. Piper Sandler reissued an "overweight" rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Alkermes has an average rating of "Moderate Buy" and an average price target of $35.42.

Alkermes Price Performance

NASDAQ:ALKS traded up $0.01 during trading hours on Wednesday, reaching $29.24. 1,522,802 shares of the company were exchanged, compared to its average volume of 1,834,684. The company has a market capitalization of $4.73 billion, a P/E ratio of 14.94, a P/E/G ratio of 0.98 and a beta of 0.47. Alkermes has a 1-year low of $22.06 and a 1-year high of $32.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. The business has a 50 day moving average of $27.71 and a 200 day moving average of $26.16.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of Alkermes stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the sale, the executive vice president now owns 83,300 shares of the company's stock, valued at approximately $2,505,664. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Craig C. Hopkinson sold 58,996 shares of Alkermes stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the sale, the executive vice president now owns 83,300 shares of the company's stock, valued at $2,505,664. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Craig C. Hopkinson sold 10,471 shares of Alkermes stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the sale, the executive vice president now directly owns 99,238 shares of the company's stock, valued at $2,930,498.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.89% of the stock is owned by company insiders.

Institutional Trading of Alkermes

Several hedge funds have recently bought and sold shares of the stock. Loomis Sayles & Co. L P grew its holdings in Alkermes by 365.5% during the third quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company's stock valued at $52,704,000 after purchasing an additional 1,478,422 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in Alkermes by 8.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 15,704 shares of the company's stock valued at $440,000 after purchasing an additional 1,248 shares during the period. Fisher Asset Management LLC grew its holdings in Alkermes by 7.5% during the third quarter. Fisher Asset Management LLC now owns 260,785 shares of the company's stock valued at $7,299,000 after purchasing an additional 18,147 shares during the period. Daiwa Securities Group Inc. grew its holdings in Alkermes by 56.9% during the third quarter. Daiwa Securities Group Inc. now owns 13,241 shares of the company's stock valued at $371,000 after purchasing an additional 4,800 shares during the period. Finally, Centaurus Financial Inc. grew its holdings in Alkermes by 10.1% during the third quarter. Centaurus Financial Inc. now owns 42,752 shares of the company's stock valued at $1,197,000 after purchasing an additional 3,922 shares during the period. 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.