Alkermes (NASDAQ:ALKS) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Alkermes (NASDAQ:ALKS) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $40.00 price target on the stock.

A number of other equities analysts also recently commented on the company. Piper Sandler reissued an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Cantor Fitzgerald lowered their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. HC Wainwright reissued a “neutral” rating and issued a $37.00 price objective on shares of Alkermes in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Mizuho increased their target price on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $36.33.

Alkermes Trading Up 2.3 %

NASDAQ:ALKS opened at $31.96 on Tuesday. Alkermes has a 12-month low of $22.90 and a 12-month high of $32.88. The firm has a market cap of $5.17 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.83 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. The stock has a fifty day moving average price of $30.11 and a 200 day moving average price of $28.62.

Insiders Place Their Bets

In related news, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Craig C. Hopkinson sold 100,918 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $32.05, for a total value of $3,234,421.90. Following the sale, the executive vice president now directly owns 44,290 shares of the company’s stock, valued at approximately $1,419,494.50. This represents a 69.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,189 shares of company stock valued at $5,723,518 over the last quarter. Company insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALKS. Centiva Capital LP acquired a new position in Alkermes in the 3rd quarter valued at $367,000. Natixis Advisors LLC boosted its holdings in shares of Alkermes by 190.3% in the third quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock valued at $1,021,000 after acquiring an additional 23,921 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Alkermes by 128.9% during the third quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company’s stock worth $1,575,000 after acquiring an additional 31,687 shares during the period. Sanctuary Advisors LLC raised its holdings in Alkermes by 254.5% during 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 in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Alkermes by 74.7% in the third quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company’s stock valued at $4,184,000 after purchasing an additional 63,939 shares during the period. Institutional investors and hedge funds 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.