Alkermes (NASDAQ:ALKS) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alkermes (NASDAQ:ALKS - Free Report) in a report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $40.00 price objective on the stock.

ALKS has been the subject of several other reports. HC Wainwright reissued a "neutral" rating and issued a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group dropped their price objective on shares of Alkermes from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. dropped their price objective on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.25.

Alkermes Stock Performance

Alkermes stock traded down $0.10 during mid-day trading on Tuesday, reaching $35.90. The company's stock had a trading volume of 1,463,077 shares, compared to its average volume of 1,688,212. The firm's fifty day moving average price is $30.31 and its two-hundred day moving average price is $28.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. Alkermes has a 12-month low of $22.90 and a 12-month high of $36.25. The company has a market capitalization of $5.81 billion, a P/E ratio of 18.43, a PEG ratio of 1.83 and a beta of 0.49.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. Sell-side analysts predict that Alkermes will post 2.23 EPS for the current fiscal year.

Insider Transactions at Alkermes

In other news, Director Cato T. Laurencin sold 2,691 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares in the company, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the transaction, the senior vice president now directly owns 60,703 shares in the company, valued at $1,769,492.45. This represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,189 shares of company stock worth $5,723,518. Corporate insiders own 4.89% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Centiva Capital LP purchased a new position in Alkermes in the 3rd quarter worth about $367,000. Natixis Advisors LLC increased its stake in Alkermes by 190.3% in the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company's stock worth $1,021,000 after buying an additional 23,921 shares during the period. Vontobel Holding Ltd. increased its stake in Alkermes by 128.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company's stock worth $1,575,000 after buying an additional 31,687 shares during the period. Sanctuary Advisors LLC increased its position in Alkermes by 254.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company's stock valued at $944,000 after purchasing an additional 23,541 shares during the period. Finally, BNP Paribas Financial Markets increased its position in Alkermes by 74.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company's stock valued at $4,184,000 after purchasing an additional 63,939 shares during the period. 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.