Analysts Set Alkermes plc (NASDAQ:ALKS) PT at $36.00

Shares of Alkermes plc (NASDAQ:ALKS) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $36.00.

A number of research firms recently weighed in on ALKS. Mizuho raised their price target on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald dropped their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a report on Friday, October 25th. Finally, Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and increased their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 61,151 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 47,576 shares of the company’s stock, valued at approximately $1,525,762.32. The trade was a 56.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction dated Monday, December 9th. The stock was 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 in the company, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,738 shares of company stock worth $4,572,904 over the last quarter. 4.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkermes

Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Alkermes during the 3rd quarter valued at $29,000. GAMMA Investing LLC boosted its stake in Alkermes by 83.8% during the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after buying an additional 1,917 shares in the last quarter. Archer Investment Corp grew its holdings in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after acquiring an additional 1,000 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Alkermes in the second quarter worth about $116,000. Finally, KBC Group NV raised its position in Alkermes by 18.8% in the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after acquiring an additional 774 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Up 0.2 %

NASDAQ ALKS opened at $28.54 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes has a fifty-two week low of $22.90 and a fifty-two week high of $32.88. The business has a 50 day moving average price of $29.12 and a two-hundred day moving average price of $27.60. The stock has a market cap of $4.62 billion, a PE ratio of 14.64, a P/E/G ratio of 1.03 and a beta of 0.49.

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.