Alkermes plc (NASDAQ:ALKS) Receives $36.00 Average PT from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $36.00.

ALKS has been the subject of a number of analyst reports. Cantor Fitzgerald decreased their price target on Alkermes from $48.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Stifel Nicolaus upgraded shares of Alkermes from a "hold" rating to a "buy" rating and boosted their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group lowered their price target on shares of Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, October 25th. Mizuho lifted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Piper Sandler reissued an "overweight" rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the transaction, the executive vice president now directly owns 83,300 shares of the company's stock, valued at $2,505,664. This trade represents a 41.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the transaction, the director now owns 23,013 shares in the company, valued at approximately $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,738 shares of company stock valued at $4,572,904 over the last ninety days. Insiders own 4.89% of the company's stock.

Hedge Funds Weigh In On Alkermes

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new stake in shares of Alkermes in the 3rd quarter worth $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in Alkermes during the second quarter worth about $116,000. GAMMA Investing LLC raised its stake in Alkermes by 83.8% during the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company's stock worth $118,000 after purchasing an additional 1,917 shares during the period. Archer Investment Corp raised its stake in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company's stock worth $126,000 after purchasing an additional 1,000 shares during the period. Finally, KBC Group NV boosted its holdings in Alkermes by 18.8% in the 3rd quarter. KBC Group NV now owns 4,890 shares of the company's stock valued at $137,000 after purchasing an additional 774 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.

Alkermes Stock Performance

Shares of NASDAQ ALKS traded up $0.29 during trading on Friday, reaching $29.04. 1,187,655 shares of the company traded hands, compared to its average volume of 1,138,927. The stock has a market cap of $4.70 billion, a P/E ratio of 14.89, a PEG ratio of 1.03 and a beta of 0.49. The firm's fifty day simple moving average is $29.08 and its 200 day simple moving average is $27.56. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. 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.