Alkermes plc (NASDAQ:ALKS) Receives $54.56 Average Target Price from Analysts

Alkermes plc (NASDAQ:ALKS) has earned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $54.5625.

A number of brokerages have commented on ALKS. TD Cowen increased their price objective on shares of Alkermes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Needham & Company LLC lifted their price objective on shares of Alkermes from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Stifel Nicolaus reiterated a “buy” rating and set a $63.00 target price (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. JPMorgan Chase & Co. increased their target price on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Mizuho raised their price target on Alkermes from $53.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd.

Alkermes Stock Down 0.1%

ALKS stock opened at $49.61 on Monday. The company’s 50 day moving average price is $48.97 and its 200 day moving average price is $38.64. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of 130.56 and a beta of 0.34. Alkermes has a fifty-two week low of $25.17 and a fifty-two week high of $55.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30.

Insiders Place Their Bets

In other news, Director Nancy Lynn Md Snyderman sold 44,472 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $50.35, for a total value of $2,239,165.20. Following the transaction, the director owned 15,395 shares in the company, valued at approximately $775,138.25. This represents a 74.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher I. Wright sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $45.10, for a total value of $90,200.00. Following the sale, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. The trade was a 7.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 79,574 shares of company stock worth $3,901,478. Insiders own 4.59% of the company’s stock.

Institutional Trading of Alkermes

Institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. purchased a new position in shares of Alkermes in the 4th quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in Alkermes in the third quarter valued at $31,000. UMB Bank n.a. grew its holdings in shares of Alkermes by 57.6% during the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Alkermes by 1,041.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,324 shares of the company’s stock valued at $37,000 after purchasing an additional 1,208 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.