Alkermes plc (NASDAQ:ALKS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $34.90.

A number of research firms have recently weighed in on ALKS. Piper Sandler reiterated an “overweight” rating and set a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday. HC Wainwright reiterated a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research report on Friday. JPMorgan Chase & Co. decreased their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday. Finally, Robert W. Baird boosted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th.

Hedge Funds Weigh In On Alkermes

A number of institutional investors and hedge funds have recently made changes to their positions in ALKS. US Bancorp DE increased its position in Alkermes by 48.8% during the 3rd quarter. US Bancorp DE now owns 10,302 shares of the company’s stock valued at $288,000 after buying an additional 3,378 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Alkermes by 12.7% in the third quarter. First Trust Direct Indexing L.P. now owns 9,571 shares of the company’s stock worth $268,000 after acquiring an additional 1,080 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Alkermes by 14.3% during the third quarter. New York State Teachers Retirement System now owns 90,111 shares of the company’s stock valued at $2,522,000 after acquiring an additional 11,289 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Alkermes by 59.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 31,671 shares of the company’s stock worth $886,000 after purchasing an additional 11,789 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Alkermes by 1.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 91,159 shares of the company’s stock worth $2,552,000 after purchasing an additional 1,431 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 1.7 %

NASDAQ:ALKS opened at $26.53 on Tuesday. The firm has a market capitalization of $4.49 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a quick ratio of 2.61, a current ratio of 2.99 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average of $27.80 and a 200 day moving average of $25.88. Alkermes has a 52 week low of $22.06 and a 52 week high of $32.88.

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.