Alkermes (NASDAQ:ALKS) Hits New 12-Month High – What’s Next?

Alkermes plc (NASDAQ:ALKS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $36.25 and last traded at $35.75, with a volume of 2626767 shares. The stock had previously closed at $36.00.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ALKS shares. JPMorgan Chase & Co. reduced their price objective on shares of 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 lifted 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. Mizuho lifted their price objective on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Piper Sandler restated an “overweight” rating and set a $37.00 price target (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Alkermes Trading Up 0.2 %

The stock has a market capitalization of $5.82 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.83 and a beta of 0.49. The firm’s 50 day moving average price is $30.40 and its 200 day moving average price is $28.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. As a group, equities research analysts expect that Alkermes plc will post 2.23 earnings per share for the current fiscal year.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $29.15, for a total value of $151,813.20. Following the sale, the senior vice president now owns 60,703 shares in the company, valued at approximately $1,769,492.45. This represents a 7.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cato T. Laurencin sold 2,691 shares of the 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 sale, the director now owns 23,013 shares in the company, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 323,608 shares of company stock worth $10,854,725 over the last 90 days. 4.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkermes

A number of institutional investors have recently made changes to their positions in the company. RTW Investments LP grew its holdings in shares of Alkermes by 13.6% during the fourth quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock valued at $217,363,000 after buying an additional 903,802 shares during the last quarter. Renaissance Technologies LLC lifted its position in Alkermes by 1.1% during the fourth quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company’s stock valued at $157,568,000 after purchasing an additional 57,697 shares during the period. American Century Companies Inc. lifted its position in Alkermes by 6.5% during the fourth quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock valued at $99,242,000 after purchasing an additional 209,740 shares during the period. Dimensional Fund Advisors LP lifted its position in Alkermes by 4.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company’s stock valued at $86,842,000 after purchasing an additional 128,701 shares during the period. Finally, Avoro Capital Advisors LLC bought a new position in Alkermes during the fourth quarter valued at approximately $70,462,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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.