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

Shares of Alkermes plc (NASDAQ:ALKS - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $36.00.

Several brokerages recently issued reports on ALKS. Cantor Fitzgerald reduced their price objective 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. Stifel Nicolaus upgraded shares of Alkermes from a "hold" rating to a "buy" rating and lifted their target price for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. The Goldman Sachs Group decreased their price target on Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Mizuho lifted their price objective on Alkermes from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, HC Wainwright reissued a "neutral" rating and set a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 61,151 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the completion of the sale, the executive vice president now owns 47,576 shares in the company, valued at approximately $1,525,762.32. The trade was a 56.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the transaction, the senior vice president now directly owns 60,703 shares in the company, valued at $1,769,492.45. This trade represents a 7.90 % 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 quarter. 4.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALKS. Loomis Sayles & Co. L P increased its holdings in shares of Alkermes by 365.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company's stock valued at $52,704,000 after acquiring an additional 1,478,422 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in shares of Alkermes in the third quarter valued at about $16,126,000. Barclays PLC boosted its stake in shares of Alkermes by 108.8% during the third quarter. Barclays PLC now owns 423,931 shares of the company's stock worth $11,867,000 after buying an additional 220,893 shares during the period. Edgestream Partners L.P. grew its holdings in shares of Alkermes by 218.4% during the third quarter. Edgestream Partners L.P. now owns 270,671 shares of the company's stock worth $7,576,000 after buying an additional 185,648 shares during the last quarter. Finally, HealthInvest Partners AB raised its stake in Alkermes by 243.9% during the 3rd quarter. HealthInvest Partners AB now owns 236,610 shares of the company's stock valued at $6,623,000 after acquiring an additional 167,810 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company's stock.

Alkermes Trading Up 1.1 %

ALKS traded up $0.35 during trading hours on Thursday, reaching $31.91. The company's stock had a trading volume of 984,007 shares, compared to its average volume of 1,394,507. The business's 50-day moving average is $29.74 and its 200-day moving average is $28.25. 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 stock has a market cap of $5.16 billion, a PE ratio of 16.36, a P/E/G ratio of 1.56 and a beta of 0.49. Alkermes has a fifty-two week low of $22.90 and a fifty-two week 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.