Alkermes (NASDAQ:ALKS) Raised to Buy at Stifel Nicolaus

Alkermes (NASDAQ:ALKS) was upgraded by equities researchers at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat.com reports. The firm currently has a $36.00 price target on the stock, up from their previous price target of $25.00. Stifel Nicolaus’ target price indicates a potential upside of 22.91% from the stock’s current price.

ALKS has been the topic of several other reports. 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. Cantor Fitzgerald dropped their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. HC Wainwright restated a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Robert W. Baird lifted their price target on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Alkermes Trading Up 3.2 %

Shares of ALKS stock opened at $29.29 on Tuesday. The stock has a market capitalization of $4.74 billion, a PE ratio of 15.02, a P/E/G ratio of 0.88 and a beta of 0.47. Alkermes has a 1-year low of $22.06 and a 1-year high of $32.88. The business has a 50-day moving average of $27.64 and a 200 day moving average of $26.01. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 10,471 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the sale, the executive vice president now directly owns 99,238 shares in the company, valued at $2,930,498.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.89% of the company’s stock.

Institutional Trading of Alkermes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EFG Asset Management North America Corp. boosted its position in shares of Alkermes by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock worth $1,828,000 after purchasing an additional 359 shares in the last quarter. United Services Automobile Association boosted its position in shares of Alkermes by 3.1% in the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock worth $318,000 after purchasing an additional 400 shares in the last quarter. Signaturefd LLC boosted its position in shares of Alkermes by 51.2% in the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Alkermes by 0.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock worth $6,175,000 after purchasing an additional 700 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Alkermes by 44.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares during the last quarter. 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.