Brokerages Set Alkermes plc (NASDAQ:ALKS) Price Target at $46.13

Alkermes plc (NASDAQ:ALKS) has received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $46.40.

A number of equities analysts have recently issued reports on the stock. Piper Sandler decreased their price target on Alkermes from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Weiss Ratings downgraded Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Bank of America increased their price target on Alkermes from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Robert W. Baird increased their price target on Alkermes from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Zacks Research raised Alkermes from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th.

Alkermes Stock Performance

Shares of Alkermes stock opened at $44.99 on Friday. The firm has a market capitalization of $7.50 billion, a P/E ratio of 49.99 and a beta of 0.38. Alkermes has a 52 week low of $25.17 and a 52 week high of $45.76. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85. The firm’s 50 day moving average is $37.92 and its two-hundred day moving average is $33.17.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $384.55 million for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. Research analysts forecast that Alkermes will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling at Alkermes

In other Alkermes news, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of Alkermes stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $43.05, for a total value of $87,563.70. Following the transaction, the executive vice president directly owned 229,524 shares of the company’s stock, valued at $9,881,008.20. This trade represents a 0.88% decrease in their position. 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 35,102 shares of company stock valued at $1,310,828. 4.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALKS. Norges Bank purchased a new stake in Alkermes during the 4th quarter worth about $54,442,000. Baker BROS. Advisors LP increased its position in Alkermes by 23.7% during the 4th quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after purchasing an additional 1,920,916 shares in the last quarter. UBS Group AG increased its position in Alkermes by 237.4% during the 4th quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after purchasing an additional 1,790,729 shares in the last quarter. First Trust Advisors LP increased its position in Alkermes by 104.2% during the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after purchasing an additional 1,514,783 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Alkermes by 32.0% during the 4th quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after purchasing an additional 1,256,377 shares in the last quarter. Institutional investors and hedge funds 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.