Brokerages Set Alkermes plc (NASDAQ:ALKS) Price Target at $36.00

Shares of Alkermes plc (NASDAQ:ALKS) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $36.00.

A number of brokerages have recently issued reports on ALKS. HC Wainwright reaffirmed a “neutral” rating and set a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Mizuho boosted their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective 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. Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and lifted their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group cut their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, October 25th.

Insider Buying and Selling at Alkermes

In other news, SVP Christian Todd Nichols sold 5,208 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the sale, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This trade represents a 7.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cato T. Laurencin sold 2,691 shares of the business’s 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 completion of the sale, the director now directly 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 147,738 shares of company stock worth $4,572,904. 4.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alkermes

Hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Alkermes in the third quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alkermes in the second quarter valued at about $116,000. GAMMA Investing LLC increased its stake in shares of 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 during the period. Archer Investment Corp increased its stake in shares of Alkermes by 28.6% in the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock worth $126,000 after purchasing an additional 1,000 shares during the period. Finally, KBC Group NV lifted its position in shares of Alkermes by 18.8% during the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after purchasing an additional 774 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

Alkermes Price Performance

NASDAQ ALKS opened at $28.54 on Friday. Alkermes has a 1 year low of $22.90 and a 1 year high of $32.88. The business’s fifty day moving average is $29.12 and its two-hundred day moving average is $27.60. The stock has a market capitalization of $4.62 billion, a P/E ratio of 14.64, a P/E/G ratio of 1.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45.

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.