Alkermes plc (NASDAQ:ALKS) Receives $35.42 Consensus PT from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $35.42.

ALKS has been the subject of a number of analyst reports. 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 research report on Friday, October 25th. Piper Sandler reissued an “overweight” rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $36.00 in a report on Tuesday, November 5th. Mizuho increased their price objective on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group decreased 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 Down 2.3 %

Alkermes stock opened at $27.55 on Friday. Alkermes has a one year low of $22.22 and a one year high of $32.88. The stock has a fifty day moving average of $27.79 and a 200 day moving average of $26.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The stock has a market cap of $4.46 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.94 and a beta of 0.47.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 10,471 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the sale, the executive vice president now directly owns 99,238 shares of the company’s stock, valued at approximately $2,930,498.14. The trade was a 9.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkermes

Institutional investors have recently made changes to their positions in the company. Sei Investments Co. boosted its position in Alkermes by 10.1% during the first quarter. Sei Investments Co. now owns 77,942 shares of the company’s stock valued at $2,110,000 after purchasing an additional 7,178 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Alkermes by 8.0% in the 1st quarter. ProShare Advisors LLC now owns 45,172 shares of the company’s stock valued at $1,223,000 after buying an additional 3,350 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Alkermes by 9.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 51,760 shares of the company’s stock worth $1,459,000 after buying an additional 4,410 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Alkermes by 70.6% during the 1st quarter. Acadian Asset Management LLC now owns 25,781 shares of the company’s stock worth $697,000 after acquiring an additional 10,671 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its position in Alkermes by 206.1% during the first quarter. Edgestream Partners L.P. now owns 79,609 shares of the company’s stock valued at $2,155,000 after acquiring an additional 53,600 shares during the last quarter. 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.