Alkermes plc (NASDAQ:ALKS) Given Average Recommendation of "Moderate Buy" by Analysts

Alkermes plc (NASDAQ:ALKS - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $35.42.

Several brokerages have issued reports on ALKS. Mizuho raised their target price on Alkermes from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Piper Sandler reissued an "overweight" rating and issued a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a report on Friday, October 25th. Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 25th. HC Wainwright reiterated a "neutral" rating and issued a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Finally, Stifel Nicolaus raised shares of Alkermes from a "hold" rating to a "buy" rating and boosted their price objective for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 61,151 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the transaction, the executive vice president now directly owns 47,576 shares of the company's stock, valued at approximately $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the company's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now owns 23,013 shares in the company, valued at $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,738 shares of company stock valued at $4,572,904. Corporate insiders own 4.89% of the company's stock.

Institutional Investors Weigh In On Alkermes

Several institutional investors have recently made changes to their positions in the company. EFG Asset Management North America Corp. increased its position in shares of Alkermes by 0.5% during the second quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company's stock worth $1,828,000 after acquiring an additional 359 shares during the period. United Services Automobile Association increased its holdings in Alkermes by 3.1% during the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company's stock worth $318,000 after purchasing an additional 400 shares during the period. Signaturefd LLC raised its position in Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company's stock valued at $34,000 after purchasing an additional 480 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Alkermes by 0.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company's stock worth $6,175,000 after buying an additional 700 shares during the period. Finally, Nicollet Investment Management Inc. grew its position in shares of Alkermes by 1.7% during the 3rd quarter. Nicollet Investment Management Inc. now owns 43,845 shares of the company's stock worth $1,227,000 after buying an additional 714 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

Alkermes Stock Performance

NASDAQ ALKS traded up $0.34 during trading hours on Wednesday, hitting $30.94. The company's stock had a trading volume of 1,382,610 shares, compared to its average volume of 1,808,503. 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 company has a market cap of $5.01 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 1.05 and a beta of 0.49. The company's 50 day simple moving average is $28.47 and its two-hundred day simple moving average is $26.90. Alkermes has a 12 month low of $22.90 and a 12 month high of $32.88.

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.