Alkermes plc (NASDAQ:ALKS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $36.00.

A number of equities research analysts have weighed in on the company. Mizuho lifted their target price on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reiterated a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Cantor Fitzgerald cut their target price on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price target 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. Finally, The Goldman Sachs Group cut their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th.

Alkermes Stock Performance

ALKS stock opened at $28.08 on Friday. The firm has a market cap of $4.54 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.03 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 stock has a 50-day moving average price of $29.29 and a 200-day moving average price of $27.69. Alkermes has a 1-year low of $22.90 and a 1-year high of $32.88.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 owns 83,300 shares in the company, valued at $2,505,664. The trade was a 41.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the sale, the director now directly owns 23,013 shares of the company’s stock, valued at $732,964.05. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,738 shares of company stock valued at $4,572,904. 4.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently made changes to their positions in ALKS. Pacer Advisors Inc. increased its holdings in Alkermes by 31.8% during the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after buying an additional 1,362,079 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Alkermes by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock worth $69,507,000 after purchasing an additional 371,039 shares during the period. Armistice Capital LLC lifted its stake in Alkermes by 301.5% in the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after purchasing an additional 2,026,961 shares during the last quarter. American Century Companies Inc. grew its holdings in Alkermes by 87.1% during the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after purchasing an additional 1,025,905 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in Alkermes by 365.5% in the third quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock worth $52,704,000 after buying an additional 1,478,422 shares during the last quarter. 95.21% of the stock is currently owned by institutional investors.

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.