Analysts Set Alkermes plc (NASDAQ:ALKS) Target Price at $36.00

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $36.00.

A number of research analysts recently weighed in on ALKS shares. The Goldman Sachs Group reduced their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus upgraded Alkermes from a “hold” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. Mizuho increased their price objective on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the transaction, the executive vice president now directly owns 83,300 shares in the company, valued at $2,505,664. This trade represents a 41.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $151,813.20. Following the completion of the sale, the senior vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,738 shares of company stock worth $4,572,904 over the last 90 days. Corporate insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALKS. Diversified Trust Co lifted its stake in shares of Alkermes by 11.5% in the 4th quarter. Diversified Trust Co now owns 42,509 shares of the company’s stock valued at $1,223,000 after acquiring an additional 4,378 shares during the last quarter. Franklin Resources Inc. lifted its position in Alkermes by 2.5% in the third quarter. Franklin Resources Inc. now owns 120,006 shares of the company’s stock valued at $3,486,000 after purchasing an additional 2,903 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Alkermes during the third quarter valued at approximately $1,098,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Alkermes during the third quarter valued at approximately $582,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Alkermes by 254.5% in the third quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock worth $944,000 after purchasing an additional 23,541 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

Alkermes Price Performance

ALKS opened at $28.08 on Friday. The firm has a 50-day moving average price of $29.29 and a 200-day moving average price of $27.69. Alkermes has a twelve month low of $22.90 and a twelve month high of $32.88. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.03 and a beta of 0.49.

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.