Brokerages Set Alkermes plc (NASDAQ:ALKS) PT at $35.42

Shares of Alkermes plc (NASDAQ:ALKS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $35.42.

A number of equities analysts recently weighed in on ALKS shares. Mizuho increased their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday. Cantor Fitzgerald reduced their target price on shares of Alkermes from $48.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. HC Wainwright reiterated a "neutral" rating and set a $37.00 price target on shares of Alkermes in a report on Friday, October 25th. The Goldman Sachs Group decreased their price objective on shares of Alkermes from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. dropped their target price on Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Friday, October 25th.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 10,471 shares of Alkermes stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total value of $309,208.63. Following the transaction, 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 9.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.89% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. grew its stake in shares of Alkermes by 10.1% in the 1st quarter. Sei Investments Co. now owns 77,942 shares of the company's stock valued at $2,110,000 after purchasing an additional 7,178 shares during the last quarter. ProShare Advisors LLC raised its position in Alkermes by 8.0% during the 1st quarter. ProShare Advisors LLC now owns 45,172 shares of the company's stock worth $1,223,000 after buying an additional 3,350 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Alkermes by 9.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company's stock worth $1,459,000 after acquiring an additional 4,410 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Alkermes by 70.6% in the first quarter. Acadian Asset Management LLC now owns 25,781 shares of the company's stock valued at $697,000 after acquiring an additional 10,671 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of Alkermes by 206.1% in the first quarter. Edgestream Partners L.P. now owns 79,609 shares of the company's stock valued at $2,155,000 after acquiring an additional 53,600 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Alkermes Trading Down 0.6 %

Shares of ALKS stock traded down $0.16 on Friday, hitting $28.19. 2,053,819 shares of the stock traded hands, compared to its average volume of 1,832,562. Alkermes has a twelve month low of $22.06 and a twelve month high of $32.88. The stock has a market capitalization of $4.56 billion, a PE ratio of 14.46, a PEG ratio of 0.98 and a beta of 0.47. The firm's 50-day moving average price is $27.79 and its two-hundred day moving average price is $26.22. 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 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.