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

Alkermes plc (NASDAQ:ALKS) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat reports. One 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 1-year price target among analysts that have covered the stock in the last year is $36.00.

ALKS has been the subject of a number of research reports. Mizuho raised their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. HC Wainwright reissued a “neutral” rating and set a $37.00 price objective on shares of Alkermes in a research note on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and boosted their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Cantor Fitzgerald decreased their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group cut their price objective on 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, EVP Craig C. Hopkinson sold 10,471 shares of Alkermes stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the sale, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. The trade was a 9.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value 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 approximately $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,738 shares of company stock valued at $4,572,904 in the last quarter. Company insiders own 4.89% of the company’s stock.

Institutional Investors Weigh In On Alkermes

Several institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in Alkermes during the third quarter valued at about $29,000. GAMMA Investing LLC raised its stake in shares of Alkermes by 83.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock valued at $118,000 after acquiring an additional 1,917 shares in the last quarter. Archer Investment Corp lifted its holdings in Alkermes by 28.6% in the 3rd 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 last quarter. Ashton Thomas Private Wealth LLC bought a new stake in Alkermes during the second quarter worth approximately $116,000. Finally, KBC Group NV grew its holdings in Alkermes by 18.8% during the third quarter. KBC Group NV now owns 4,890 shares of the company’s stock valued at $137,000 after purchasing an additional 774 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Stock Performance

NASDAQ:ALKS opened at $28.42 on Friday. The company has a 50-day moving average of $29.26 and a 200-day moving average of $27.64. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.49. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. Alkermes has a twelve month low of $22.90 and a twelve month high of $32.88.

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.