Alkermes plc (NASDAQ:ALKS) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the thirteen research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $38.46.

ALKS has been the topic of a number of recent analyst reports. Royal Bank of Canada started coverage on shares of Alkermes in a research report on Thursday, March 13th. They issued a "sector perform" rating and a $40.00 price target on the stock. UBS Group raised shares of Alkermes from a "sell" rating to a "neutral" rating and upped their price target for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. HC Wainwright reiterated a "neutral" rating and set a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on Alkermes from $30.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, StockNews.com raised Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th.

Remove Ads

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the transaction, the executive vice president now owns 57,875 shares in the company, valued at approximately $2,056,298.75. The trade was a 71.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Venturi Wealth Management LLC purchased a new stake in Alkermes in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC grew its stake in shares of Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after acquiring an additional 842 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Alkermes by 2,231.5% in the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock worth $49,000 after acquiring an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Alkermes by 558.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock valued at $85,000 after purchasing an additional 2,502 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Alkermes during the fourth quarter valued at about $98,000. Institutional investors own 95.21% of the company's stock.

Alkermes Price Performance

NASDAQ ALKS traded up $0.19 on Friday, reaching $34.79. The company had a trading volume of 1,303,620 shares, compared to its average volume of 1,695,591. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 2.20 and a beta of 0.62. Alkermes has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The business has a 50 day moving average of $32.97 and a two-hundred day moving average of $30.07.

Alkermes (NASDAQ:ALKS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) 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, research analysts predict that Alkermes will post 1.31 earnings per share for the current fiscal year.

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.