Alkermes plc (NASDAQ:ALKS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $36.00.

A number of equities research analysts have recently commented on ALKS shares. Piper Sandler reiterated an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group reduced their price objective on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, HC Wainwright restated a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th.

Alkermes Stock Performance

Shares of ALKS opened at $31.56 on Thursday. Alkermes has a 12-month low of $22.90 and a 12-month high of $32.88. The stock has a market capitalization of $5.11 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.56 and a beta of 0.49. The firm’s 50 day moving average is $29.66 and its 200-day moving average is $28.22. 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 61,151 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the completion of the sale, the executive vice president now directly owns 47,576 shares in the company, valued at $1,525,762.32. This represents a 56.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.85, for a total value of $85,708.35. Following the completion of the transaction, the director now owns 23,013 shares in the company, valued at $732,964.05. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,738 shares of company stock worth $4,572,904 over the last three months. Corporate insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALKS. V Square Quantitative Management LLC acquired a new position in shares of Alkermes in the 3rd quarter valued at $29,000. Blue Trust Inc. raised its position in Alkermes by 2,394.5% in the fourth quarter. Blue Trust Inc. now owns 1,821 shares of the company’s stock worth $51,000 after purchasing an additional 1,748 shares in the last quarter. GAMMA Investing LLC lifted its stake in Alkermes by 83.8% during the third quarter. GAMMA Investing LLC now owns 4,204 shares of the company’s stock worth $118,000 after purchasing an additional 1,917 shares during the period. Archer Investment Corp boosted its holdings in Alkermes by 28.6% during the third quarter. Archer Investment Corp now owns 4,500 shares of the company’s stock valued at $126,000 after purchasing an additional 1,000 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Alkermes by 18.8% in the 3rd quarter. KBC Group NV now owns 4,890 shares of the company’s stock worth $137,000 after buying an additional 774 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.