Alkermes (NASDAQ:ALKS) Given New $52.00 Price Target at Deutsche Bank Aktiengesellschaft

Alkermes (NASDAQ:ALKS) had its price target lifted by Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

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

Alkermes Price Performance

ALKS stock opened at $33.53 on Thursday. The company has a 50 day moving average price of $33.38 and a 200 day moving average price of $30.22. Alkermes has a fifty-two week low of $22.90 and a fifty-two week high of $36.45. The stock has a market capitalization of $5.45 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62.

Alkermes (NASDAQ:ALKS) last released its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping 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%. As a group, equities analysts expect that Alkermes will post 1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the company’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 completion of the transaction, the executive vice president now owns 57,875 shares in the company, valued at $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkermes

A number of hedge funds and other institutional investors have recently made changes to their positions in ALKS. Venturi Wealth Management LLC bought a new position in Alkermes during the 4th quarter worth about $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Alkermes by 2,231.5% during the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after buying an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Alkermes by 558.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after buying an additional 2,502 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Alkermes during the 4th quarter worth approximately $98,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.