Alkermes plc (NASDAQ:ALKS) Receives $49.62 Average Target Price from Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have earned an average recommendation of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $51.80.

Several equities analysts have weighed in on ALKS shares. Piper Sandler cut 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. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research report on Thursday, June 18th. Weiss Ratings lowered shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Needham & Company LLC upped their price target on shares of Alkermes from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday. Finally, Robert W. Baird increased their price objective on shares of Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th.

Insider Activity at Alkermes

In other Alkermes news, 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 $3,780,267.39. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $43.05, for a total value of $87,563.70. Following the completion of the sale, the executive vice president directly owned 229,524 shares of the company’s stock, valued at $9,881,008.20. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 35,102 shares of company stock valued at $1,494,410. Insiders own 4.59% of the company’s stock.

Institutional Trading of Alkermes

Several hedge funds and other institutional investors have recently bought and sold shares of ALKS. Hennion & Walsh Asset Management Inc. bought a new stake in Alkermes in the second quarter worth $2,479,000. GAMMA Investing LLC increased its position in Alkermes by 24.5% during the second quarter. GAMMA Investing LLC now owns 6,705 shares of the company’s stock valued at $351,000 after acquiring an additional 1,320 shares during the last quarter. Harbor Investment Advisory LLC bought a new position in Alkermes during the second quarter valued at $82,000. Versant Capital Management Inc raised its stake in shares of Alkermes by 33.9% in the second quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after acquiring an additional 366 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of Alkermes by 2.0% in the first quarter. Pacer Advisors Inc. now owns 688,563 shares of the company’s stock valued at $24,348,000 after acquiring an additional 13,689 shares during the period. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Stock Up 0.7%

ALKS opened at $51.98 on Thursday. The firm has a 50-day simple moving average of $44.75 and a two-hundred day simple moving average of $36.30. Alkermes has a 52 week low of $25.17 and a 52 week high of $55.67. The company has a market capitalization of $8.66 billion, a PE ratio of 57.76 and a beta of 0.34. 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 issued its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. The firm had revenue of $384.55 million during the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. Analysts forecast that Alkermes will post -0.42 earnings per share for the current fiscal year.

About Alkermes

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.