Shares of Alkermes plc (NASDAQ:ALKS - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $36.25 and last traded at $35.75, with a volume of 2626767 shares trading hands. The stock had previously closed at $36.00.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on ALKS. Stifel Nicolaus raised Alkermes from a "hold" rating to a "buy" rating and upped their price target for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Deutsche Bank Aktiengesellschaft began coverage on Alkermes in a research note on Tuesday, February 11th. They issued a "buy" rating and a $40.00 price target for the company. Mizuho upped their price target on Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lowered their price target on Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Alkermes has a consensus rating of "Moderate Buy" and an average target price of $38.36.
Check Out Our Latest Report on ALKS
Alkermes Stock Performance
The company has a 50-day moving average of $30.79 and a 200-day moving average of $29.02. The firm has a market capitalization of $5.74 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 2.23 and a beta of 0.49.
Alkermes (NASDAQ:ALKS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. As a group, analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the sale, the executive vice president now owns 57,875 shares of the company's stock, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the sale, the senior vice president now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 323,608 shares of company stock valued at $10,854,725 in the last quarter. 4.89% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alkermes
A number of large investors have recently added to or reduced their stakes in ALKS. Creative Planning raised its stake in Alkermes by 51.7% in the 3rd quarter. Creative Planning now owns 50,629 shares of the company's stock valued at $1,417,000 after acquiring an additional 17,264 shares during the period. Moody Aldrich Partners LLC raised its stake in Alkermes by 36.8% in the 3rd quarter. Moody Aldrich Partners LLC now owns 84,907 shares of the company's stock valued at $2,377,000 after acquiring an additional 22,841 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Alkermes by 17.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,956 shares of the company's stock valued at $164,000 after acquiring an additional 904 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Alkermes in the 3rd quarter valued at $281,000. Finally, Nisa Investment Advisors LLC raised its stake in Alkermes by 1.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 91,159 shares of the company's stock valued at $2,552,000 after acquiring an additional 1,431 shares during the period. Institutional investors own 95.21% of the company's stock.
About Alkermes
(
Get Free Report)
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.
Featured Stories
Before you consider Alkermes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alkermes wasn't on the list.
While Alkermes currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
