Alkermes plc (NASDAQ:ALKS) Receives $35.42 Average Target Price from Analysts

Alkermes plc (NASDAQ:ALKS) has been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $35.42.

Several equities analysts have recently issued reports on ALKS shares. JPMorgan Chase & Co. cut their price objective on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group decreased their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Robert W. Baird lifted their price objective on shares of Alkermes from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Mizuho upped their target price on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research report on Sunday, July 28th.

Alkermes Trading Down 2.3 %

Shares of NASDAQ:ALKS opened at $27.55 on Friday. The business’s 50-day moving average is $27.79 and its 200 day moving average is $26.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes has a 1 year low of $22.22 and a 1 year high of $32.88. The firm has a market capitalization of $4.46 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.94 and a beta of 0.47.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 58,996 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the completion of the transaction, the executive vice president now directly owns 83,300 shares in the company, valued at $2,505,664. The trade was a 41.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EFG Asset Management North America Corp. grew its stake in Alkermes by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock valued at $1,828,000 after acquiring an additional 359 shares during the period. United Services Automobile Association grew its position in shares of Alkermes by 3.1% in the second quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock valued at $318,000 after purchasing an additional 400 shares during the period. Signaturefd LLC increased its stake in shares of Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Alkermes by 0.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock worth $6,175,000 after purchasing an additional 700 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after purchasing an additional 703 shares during the last quarter. 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.