Alkermes (NASDAQ:ALKS) Hits New 12-Month High – What’s Next?

Alkermes plc (NASDAQ:ALKS) shares reached a new 52-week high on Tuesday . The stock traded as high as $36.25 and last traded at $35.75, with a volume of 2626767 shares traded. The stock had previously closed at $36.00.

Analyst Ratings Changes

ALKS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Alkermes in a research report on Tuesday, February 11th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright reissued a “neutral” rating and issued a $46.00 price objective on shares of Alkermes in a research note on Thursday, February 13th. Mizuho raised their target price on shares of Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus raised shares of Alkermes from a “hold” rating to a “buy” rating and raised their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. 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, Alkermes currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

Alkermes Stock Up 0.2 %

The firm has a market capitalization of $5.82 billion, a PE ratio of 18.47, a PEG ratio of 1.83 and a beta of 0.49. The business’s 50 day simple moving average is $30.40 and its 200 day simple moving average is $28.81. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. On average, equities research analysts forecast that Alkermes plc will post 2.23 earnings per share for the current year.

Insider Transactions at Alkermes

In related news, Director Cato T. Laurencin sold 2,691 shares of Alkermes 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 in the company, valued at $732,964.05. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig C. Hopkinson sold 144,419 shares of the business’s stock in a transaction dated 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 approximately $2,056,298.75. This represents a 71.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,608 shares of company stock worth $10,854,725. 4.89% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkermes

Several large investors have recently modified their holdings of ALKS. Avoro Capital Advisors LLC bought a new stake in shares of Alkermes in the 4th quarter valued at about $70,462,000. Norges Bank bought a new stake in shares of Alkermes in the 4th quarter valued at about $56,684,000. Loomis Sayles & Co. L P raised its holdings in shares of Alkermes by 365.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock valued at $52,704,000 after purchasing an additional 1,478,422 shares in the last quarter. RTW Investments LP raised its holdings in shares of Alkermes by 13.6% in the 4th quarter. RTW Investments LP now owns 7,557,835 shares of the company’s stock valued at $217,363,000 after purchasing an additional 903,802 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Alkermes by 109.5% in the 4th quarter. Nuveen Asset Management LLC now owns 1,659,821 shares of the company’s stock valued at $47,736,000 after purchasing an additional 867,492 shares in the last quarter. 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.