Alkermes plc (NASDAQ:ALKS) Stock Has Consensus Target Price of $55.06

Alkermes plc (NASDAQ:ALKS) has been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $55.73.

A number of equities analysts recently commented on ALKS shares. Mizuho upgraded Alkermes to a “strong-buy” rating in a report on Wednesday, September 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 target price (up from $43.00) on shares of Alkermes in a research report on Tuesday, July 28th. Royal Bank Of Canada boosted their price target on shares of Alkermes from $56.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. Robert W. Baird set a $61.00 price target on shares of Alkermes in a research report on Wednesday, November 4th. Finally, Truist Financial started coverage on shares of Alkermes in a research report on Friday, October 16th. They set a “buy” rating and a $55.00 price target on the stock.

Insider Activity at Alkermes

In other Alkermes news, SVP Christian Nichols sold 7,576 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $49.23, for a total transaction of $372,966.48. Following the sale, the senior vice president directly owned 102,193 shares in the company, valued at $5,030,961.39. This represents a 6.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Gaffin sold 2,035 shares of the stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $46.17, for a total transaction of $93,955.95. Following the sale, the executive vice president owned 219,353 shares in the company, valued at approximately $10,127,528.01. This trade represents a 0.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 22,679 shares of company stock worth $1,070,940. Corporate insiders own 4.59% of the company’s stock.

Institutional Trading of Alkermes

A number of large investors have recently modified their holdings of the stock. Baird Financial Group Inc. acquired a new stake in Alkermes in the 2nd quarter valued at about $2,791,000. S&CO Inc. purchased a new position in shares of Alkermes in the 2nd quarter valued at about $12,824,000. Quantinno Capital Management LP grew its position in shares of Alkermes by 131.1% during the first quarter. Quantinno Capital Management LP now owns 44,932 shares of the company’s stock worth $1,589,000 after buying an additional 25,492 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Alkermes during the second quarter worth about $2,479,000. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Alkermes during the first quarter worth about $855,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Up 0.1%

NASDAQ:ALKS opened at $47.03 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.42 and a debt-to-equity ratio of 0.79. The stock’s fifty day moving average is $43.67 and its two-hundred day moving average is $41.13. Alkermes has a 52 week low of $27.00 and a 52 week high of $55.67. The stock has a market capitalization of $7.90 billion, a price-to-earnings ratio of 1,566.00 and a beta of 0.32.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.17. The business had revenue of $480.13 million during the quarter, compared to analysts’ expectations of $463.48 million. Alkermes had a positive return on equity of 0.40% and a negative net margin of 0.02%. The company’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 earnings per share. Research analysts anticipate that Alkermes will post -0.52 EPS for the current year.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing and commercializing medicines for neuroscience-related conditions, including serious mental illness and addiction. Founded in 1987, the company has operations in the United States and Ireland, with its corporate headquarters in Dublin and major U.S. operations in Massachusetts. Its marketed medicines include Vivitrol, an extended-release injectable formulation of naltrexone used to treat alcohol dependence and to prevent relapse to opioid dependence after detoxification; Aristada, an injectable treatment for schizophrenia in adults; and Lybalvi, a medicine for schizophrenia and bipolar I disorder in adults.