Alkermes (NASDAQ:ALKS) Receives "Neutral" Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Alkermes (NASDAQ:ALKS - Free Report) in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The firm currently has a $46.00 target price on the stock.

A number of other brokerages also recently weighed in on ALKS. JPMorgan Chase & Co. decreased their target price on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating for the company 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. Deutsche Bank Aktiengesellschaft started coverage on Alkermes in a research note on Tuesday, February 11th. They issued a "buy" rating and a $40.00 target price on the stock. Cantor Fitzgerald reduced 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. Finally, The Goldman Sachs Group dropped their price target on shares of Alkermes from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Alkermes currently has an average rating of "Moderate Buy" and an average price target of $37.25.

Alkermes Stock Down 0.3 %

ALKS stock traded down $0.11 during midday trading on Thursday, hitting $35.89. The stock had a trading volume of 2,626,767 shares, compared to its average volume of 1,335,446. The business has a 50-day moving average of $30.40 and a two-hundred day moving average of $28.81. 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 firm has a market cap of $5.81 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. Alkermes has a 52-week low of $22.90 and a 52-week high of $36.25.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. As a group, equities research analysts forecast that Alkermes will post 2.23 earnings per share for the current fiscal year.

Insider Activity

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of the company's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the sale, the director now directly owns 23,013 shares of the company's stock, valued at approximately $732,964.05. This represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Craig C. Hopkinson sold 9,221 shares of Alkermes stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $31.50, for a total transaction of $290,461.50. Following the transaction, the executive vice president now owns 59,730 shares in the company, valued at $1,881,495. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 323,608 shares of company stock valued at $10,854,725 in the last 90 days. 4.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in Alkermes during the fourth quarter valued at about $25,000. V Square Quantitative Management LLC bought a new position in shares of Alkermes in the third quarter worth about $29,000. EverSource Wealth Advisors LLC grew its position in shares of Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company's stock worth $47,000 after purchasing an additional 842 shares in the last quarter. Blue Trust Inc. raised its stake in Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company's stock valued at $49,000 after purchasing an additional 1,629 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in Alkermes by 558.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company's stock worth $85,000 after purchasing an additional 2,502 shares in the last quarter. Institutional investors own 95.21% of the company's stock.

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.