Alkermes (NASDAQ:ALKS) Sets New 12-Month High – Still a Buy?

Shares of Alkermes plc (NASDAQ:ALKS) reached a new 52-week high during trading on Monday . The company traded as high as $55.37 and last traded at $55.14, with a volume of 1743604 shares traded. The stock had previously closed at $54.58.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALKS shares. UBS Group raised their price target on shares of Alkermes from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a report on Thursday, June 18th. Royal Bank Of Canada upped their target price on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday, June 9th. TD Cowen raised their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Finally, Mizuho lifted their price target on Alkermes from $53.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.62.

Alkermes Price Performance

The company has a market cap of $9.19 billion, a PE ratio of 61.27 and a beta of 0.34. The stock has a 50-day simple moving average of $41.71 and a 200 day simple moving average of $34.90. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.85.

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

Insider Transactions at Alkermes

In other news, Director Christopher I. Wright sold 2,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $45.10, for a total transaction of $90,200.00. Following the sale, the director owned 25,680 shares of the company’s stock, valued at approximately $1,158,168. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Craig C. Hopkinson sold 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total transaction of $463,590.00. Following the sale, the executive vice president directly owned 73,389 shares in the company, valued at approximately $3,780,267.39. The trade was a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 33,068 shares of company stock worth $1,384,512 over the last ninety days. Company insiders own 4.59% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Several institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. acquired a new stake in shares of Alkermes in the fourth quarter valued at $28,000. Johnson Financial Group Inc. acquired a new position in Alkermes during the 3rd quarter worth $31,000. UMB Bank n.a. grew its stake in Alkermes by 57.6% during the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in Alkermes by 115.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in 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 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.