Alkermes (NASDAQ:ALKS) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Alkermes (NASDAQ:ALKS) had its price objective lifted by investment analysts at The Goldman Sachs Group from $30.00 to $32.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 10.84% from the stock’s current price.

ALKS has been the subject of several other reports. Mizuho lifted their target price on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “neutral” rating and set a $46.00 target price on shares of Alkermes in a research report on Thursday. JPMorgan Chase & Co. cut their price target on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note 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 research report on Friday, October 25th. Finally, StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Alkermes Stock Down 0.3 %

NASDAQ ALKS opened at $35.89 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes has a 52 week low of $22.90 and a 52 week high of $36.25. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.83 and a beta of 0.49. The company has a fifty day moving average of $30.40 and a two-hundred day moving average of $28.80.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 24.92% and a net margin of 22.15%. On average, analysts predict that Alkermes will post 2.23 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Cato T. Laurencin sold 2,691 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the sale, the director now owns 23,013 shares of the company’s stock, valued at $732,964.05. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christian Todd Nichols sold 5,208 shares of the stock in a transaction dated Wednesday, November 27th. The shares were 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 $1,769,492.45. This trade represents a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 323,608 shares of company stock worth $10,854,725 in the last ninety days. 4.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new position in shares of Alkermes in the 4th quarter worth approximately $25,000. V Square Quantitative Management LLC acquired a new position in Alkermes during the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in Alkermes by 106.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after buying an additional 842 shares during the last quarter. Blue Trust Inc. raised its position in shares of Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Alkermes by 558.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after buying an additional 2,502 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

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.