Alkermes (NASDAQ:ALKS) Price Target Raised to $32.00

Alkermes (NASDAQ:ALKS - Get Free Report) had its price objective hoisted by The Goldman Sachs Group from $30.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential downside of 10.95% from the company's current price.

ALKS has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of Alkermes from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. StockNews.com upgraded shares of Alkermes from a "buy" rating to a "strong-buy" rating in a research note on Thursday, February 13th. HC Wainwright reaffirmed a "neutral" rating and set a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. Cantor Fitzgerald decreased 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. Finally, Stifel Nicolaus raised shares of Alkermes from a "hold" rating to a "buy" rating and upped their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $37.25.

Alkermes Stock Performance

Shares of ALKS stock traded up $0.05 during trading on Friday, reaching $35.94. 2,196,565 shares of the company's stock traded hands, compared to its average volume of 1,747,312. The company has a market capitalization of $5.84 billion, a P/E ratio of 18.43, a PEG ratio of 1.83 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The firm's 50-day moving average is $30.49 and its 200 day moving average is $28.87. Alkermes has a 1 year low of $22.90 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS - Get Free Report) last announced its quarterly 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%. Equities research analysts expect that Alkermes will post 2.23 EPS for the current year.

Insider Activity at Alkermes

In related news, 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 transaction, the senior vice president now owns 60,703 shares of the company's stock, valued at approximately $1,769,492.45. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the transaction, the executive vice president now directly owns 57,875 shares in the company, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,608 shares of company stock valued at $10,854,725. Insiders own 4.89% of the company's stock.

Institutional Investors Weigh In On Alkermes

Institutional investors have recently added to or reduced their stakes in the company. Centiva Capital LP purchased a new stake in Alkermes during the 3rd quarter valued at $367,000. Natixis Advisors LLC boosted its position in Alkermes by 190.3% during the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company's stock valued at $1,021,000 after buying an additional 23,921 shares during the period. Vontobel Holding Ltd. boosted its position in Alkermes by 128.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company's stock valued at $1,575,000 after buying an additional 31,687 shares during the period. Sanctuary Advisors LLC boosted its position in Alkermes by 254.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company's stock valued at $944,000 after buying an additional 23,541 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Alkermes by 74.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company's stock valued at $4,184,000 after buying an additional 63,939 shares during the period. Hedge funds and other institutional investors own 95.21% of the company's stock.

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.