Deutsche Bank Aktiengesellschaft Boosts Alkermes (NASDAQ:ALKS) Price Target to $52.00

Alkermes (NASDAQ:ALKS) had its target price lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 56.58% from the company’s current price.

ALKS has been the topic of a number of other reports. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group upped their price objective on shares of Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 14th. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. Royal Bank of Canada initiated coverage on Alkermes in a research note on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price target on the stock. Finally, UBS Group upgraded Alkermes from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.38.

Alkermes Price Performance

Shares of ALKS opened at $33.21 on Thursday. The company has a 50-day simple moving average of $33.45 and a two-hundred day simple moving average of $30.26. The firm has a market capitalization of $5.40 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. Alkermes has a one year low of $22.90 and a one year high of $36.45.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Analysts expect that Alkermes will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the sale, the executive vice president now owns 57,875 shares in the company, valued at approximately $2,056,298.75. This trade represents a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the company. Avoro Capital Advisors LLC bought a new stake in Alkermes during the fourth quarter valued at approximately $70,462,000. Norges Bank purchased a new stake in Alkermes in the 4th quarter worth approximately $56,684,000. RTW Investments LP raised its stake in Alkermes by 13.6% during the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock worth $217,363,000 after acquiring an additional 903,802 shares during the period. Nuveen Asset Management LLC lifted its holdings in Alkermes by 109.5% during the fourth quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company’s stock valued at $47,736,000 after purchasing an additional 867,492 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new position in shares of Alkermes in the third quarter worth approximately $16,126,000. 95.21% of the stock is 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.