Alkermes plc (NASDAQ:ALKS) Receives $38.46 Consensus Target Price from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average rating of “Moderate Buy” by the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $38.46.

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Alkermes in a report on Tuesday, February 11th. They issued a “buy” rating and a $40.00 target price on the stock. HC Wainwright reiterated a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a report on Thursday, February 13th. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Royal Bank of Canada assumed coverage on Alkermes in a report on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, February 14th.

Alkermes Stock Up 2.0 %

ALKS stock opened at $34.60 on Friday. Alkermes has a 52-week low of $22.90 and a 52-week high of $36.45. The stock’s fifty day simple moving average is $32.97 and its 200-day simple moving average is $30.07. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. As a group, analysts anticipate that Alkermes will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In other news, EVP Craig C. Hopkinson sold 100,918 shares of Alkermes stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the sale, the executive vice president now directly owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. The trade was a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.89% of the company’s stock.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently modified their holdings of the business. RTW Investments LP grew its stake in Alkermes by 13.6% in the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock worth $217,363,000 after purchasing an additional 903,802 shares in the last quarter. Renaissance Technologies LLC grew its stake in Alkermes by 1.1% in the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company’s stock worth $157,568,000 after purchasing an additional 57,697 shares in the last quarter. American Century Companies Inc. grew its stake in Alkermes by 6.5% in the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock worth $99,242,000 after purchasing an additional 209,740 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Alkermes by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company’s stock worth $86,842,000 after purchasing an additional 128,701 shares in the last quarter. Finally, Avoro Capital Advisors LLC acquired a new position in Alkermes in the fourth quarter worth about $70,462,000. 95.21% of the stock is owned by hedge funds and other 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.