Alkermes plc (NASDAQ:ALKS) Given Consensus Rating of “Moderate Buy” by Brokerages

Alkermes plc (NASDAQ:ALKS) has earned an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $38.46.

ALKS has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Alkermes in a research report on Tuesday, February 11th. They set a “buy” rating and a $40.00 target price for the company. UBS Group raised Alkermes from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $21.00 to $38.00 in a report on Tuesday, March 4th. The Goldman Sachs Group raised their target price on shares of Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 14th. HC Wainwright reiterated a “neutral” rating and set a $46.00 price target on shares of Alkermes in a research report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th.

Insider Buying and Selling at Alkermes

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the sale, the executive vice president now owns 57,875 shares of the company’s stock, valued at $2,056,298.75. This represents a 71.39 % 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. Insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

A number of large investors have recently added to or reduced their stakes in the company. RTW Investments LP boosted its position 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 worth $217,363,000 after buying an additional 903,802 shares during the period. Renaissance Technologies LLC raised its position in Alkermes by 1.1% in the 4th quarter. Renaissance Technologies LLC now owns 5,478,728 shares of the company’s stock valued at $157,568,000 after buying an additional 57,697 shares during the last quarter. American Century Companies Inc. lifted its stake in Alkermes by 6.5% in the 4th quarter. American Century Companies Inc. now owns 3,450,707 shares of the company’s stock valued at $99,242,000 after acquiring an additional 209,740 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Alkermes by 4.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company’s stock worth $86,842,000 after acquiring an additional 128,701 shares during the last quarter. Finally, Avoro Capital Advisors LLC bought a new position in shares of Alkermes during the 4th quarter worth approximately $70,462,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Stock Down 1.2 %

Shares of NASDAQ:ALKS opened at $33.92 on Friday. The firm has a market cap of $5.52 billion, a P/E ratio of 15.63, a P/E/G ratio of 2.20 and a beta of 0.62. Alkermes has a 12 month low of $22.90 and a 12 month high of $36.45. The company’s 50-day moving average price is $32.84 and its two-hundred day moving average price is $30.00.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings results 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 23.57% and a return on equity of 30.80%. As a group, equities analysts predict that Alkermes will post 1.31 earnings per share for the current fiscal year.

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.