Alkermes plc (NASDAQ:ALKS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $35.42.

Several research firms recently commented on ALKS. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. Finally, 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.

Insider Activity

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig C. Hopkinson sold 10,471 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the transaction, the executive vice president now directly owns 99,238 shares of the company’s stock, valued at approximately $2,930,498.14. This trade represents a 9.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,738 shares of company stock valued at $4,572,904. Insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in Alkermes during the 3rd quarter worth about $29,000. Signaturefd LLC boosted its stake in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after buying an additional 480 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Alkermes during the 2nd quarter worth $116,000. GAMMA Investing LLC grew its stake in Alkermes by 83.8% in the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after purchasing an additional 1,917 shares in the last quarter. Finally, Archer Investment Corp increased its holdings in shares of Alkermes by 28.6% in the 3rd quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $30.60 on Wednesday. Alkermes has a one year low of $22.90 and a one year high of $32.88. 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 firm has a fifty day moving average of $28.39 and a 200 day moving average of $26.82. The firm has a market cap of $4.95 billion, a PE ratio of 15.69, a PEG ratio of 1.05 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.