Brokerages Set Alkermes plc (NASDAQ:ALKS) Price Target at $35.42

Shares of Alkermes plc (NASDAQ:ALKS) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight 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 $35.42.

ALKS has been the topic of a number of research reports. Mizuho boosted their target price on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Finally, Cantor Fitzgerald reduced their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research note on Friday, October 25th.

Alkermes Price Performance

Shares of ALKS opened at $30.75 on Wednesday. The firm has a market cap of $4.98 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.03 and a beta of 0.49. Alkermes has a 52-week low of $22.90 and a 52-week high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The business’s 50 day moving average price is $28.67 and its two-hundred day moving average price is $27.12.

Insider Activity at Alkermes

In other Alkermes news, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the transaction, the director now owns 23,013 shares of the company’s stock, valued at $732,964.05. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the completion of the transaction, the senior vice president now owns 60,703 shares in the company, valued at $1,769,492.45. The trade was a 7.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,738 shares of company stock valued at $4,572,904 over the last 90 days. Insiders own 4.89% of the company’s stock.

Institutional Trading of Alkermes

A number of hedge funds have recently bought and sold shares of ALKS. Wedge Capital Management L L P NC purchased a new stake in shares of Alkermes during the 2nd quarter valued at $2,662,000. Centiva Capital LP bought a new position in Alkermes during the third quarter valued at about $367,000. Natixis Advisors LLC increased its holdings in Alkermes by 190.3% during the third quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after buying an additional 23,921 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Alkermes in the second quarter valued at about $1,285,000. Finally, Affinity Asset Advisors LLC grew its stake in shares of Alkermes by 766.7% during the 2nd quarter. Affinity Asset Advisors LLC now owns 650,000 shares of the company’s stock worth $15,665,000 after acquiring an additional 575,000 shares during the period. 95.21% of the stock is currently owned by institutional investors.

About Alkermes

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.