Deutsche Bank Aktiengesellschaft Increases Alkermes (NASDAQ:ALKS) Price Target to $52.00

Alkermes (NASDAQ:ALKS) had its target price upped by equities research analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 56.58% from the company’s previous close.

Several other equities analysts have also recently weighed in on ALKS. StockNews.com upgraded Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. The Goldman Sachs Group lifted their target price on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, February 14th. HC Wainwright reissued a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. Royal Bank of Canada initiated coverage on shares of Alkermes in a research report on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price objective for the company. Finally, UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and upped their target price for the stock from $21.00 to $38.00 in a report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.38.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $33.21 on Thursday. The business has a fifty day moving average price of $33.45 and a two-hundred day moving average price of $30.26. The company has a market capitalization of $5.40 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.20 and a beta of 0.62. Alkermes has a 1 year low of $22.90 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. Sell-side analysts anticipate that Alkermes will post 1.31 earnings per share for the current year.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 144,419 shares of Alkermes stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $35.53, for a total value of $5,131,207.07. Following the transaction, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at $2,056,298.75. The trade was a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.89% of the company’s stock.

Institutional Investors Weigh In On Alkermes

Several institutional investors have recently added to or reduced their stakes in ALKS. RTW Investments LP raised its stake 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 acquiring an additional 903,802 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Alkermes by 1.1% during the 4th 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. raised its position in Alkermes by 6.5% during the 4th 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in Alkermes by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,019,508 shares of the company’s stock worth $86,842,000 after buying an additional 128,701 shares during the period. Finally, Avoro Capital Advisors LLC bought a new stake in shares of Alkermes in the 4th quarter worth 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.