Deutsche Bank Aktiengesellschaft Issues Positive Forecast for Alkermes (NASDAQ:ALKS) Stock Price

Alkermes (NASDAQ:ALKS - Get Free Report) had its price objective lifted by research analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a report released on Thursday, MarketBeat.com reports. The firm presently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's price target points to a potential upside of 59.58% from the company's previous close.

Other analysts also recently issued research reports about the stock. UBS Group raised shares of Alkermes from a "sell" rating to a "neutral" rating and lifted their target price for the company from $21.00 to $38.00 in a report on Tuesday, March 4th. StockNews.com upgraded Alkermes from a "buy" rating to a "strong-buy" rating in a research report on Thursday, February 13th. The Goldman Sachs Group raised their price target on Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a report on Friday, February 14th. Royal Bank of Canada assumed coverage on Alkermes in a report on Thursday, March 13th. They set a "sector perform" rating and a $40.00 price objective on the stock. Finally, HC Wainwright reissued a "neutral" rating and issued a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. Four 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. Based on data from MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and a consensus price target of $39.38.

Remove Ads

Alkermes Stock Down 1.9 %

ALKS stock traded down $0.63 during trading on Thursday, hitting $32.59. The company had a trading volume of 361,260 shares, compared to its average volume of 1,746,453. The firm has a 50-day moving average price of $33.45 and a 200-day moving average price of $30.31. The firm has a market cap of $5.30 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. Alkermes has a 1-year low of $22.90 and a 1-year high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Alkermes will post 1.31 earnings per share for the current year.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the transaction, the executive vice president now owns 57,875 shares of the company's stock, valued at $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 4.89% of the company's stock.

Institutional Trading of Alkermes

Hedge funds and other institutional investors have recently bought and sold shares of the company. Centiva Capital LP acquired a new stake in shares of Alkermes during the third quarter worth $367,000. Natixis Advisors LLC lifted its position in Alkermes by 36.8% during the fourth quarter. Natixis Advisors LLC now owns 49,922 shares of the company's stock worth $1,436,000 after buying an additional 13,432 shares during the period. Sanctuary Advisors LLC boosted its stake in Alkermes by 254.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company's stock worth $944,000 after buying an additional 23,541 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Alkermes by 74.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company's stock valued at $4,184,000 after buying an additional 63,939 shares during the period. Finally, Barclays PLC increased its stake in shares of Alkermes by 108.8% during the 3rd quarter. Barclays PLC now owns 423,931 shares of the company's stock valued at $11,867,000 after acquiring an additional 220,893 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Company Profile

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.