Alkermes plc (NASDAQ:ALKS) Stock Has Consensus Target Price of $54.47

Alkermes plc (NASDAQ:ALKS) has been given an average rating of “Moderate Buy” by the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $54.47.

A number of analysts have issued reports on ALKS shares. Mizuho raised Alkermes to a “strong-buy” rating in a research report on Wednesday, September 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Alkermes in a research report on Friday, August 7th. Wells Fargo & Company boosted their target price on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, June 29th. JPMorgan Chase & Co. lifted their price target on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Finally, Robert W. Baird increased their price objective on Alkermes from $58.00 to $61.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd.

Alkermes Price Performance

Shares of NASDAQ:ALKS opened at $43.63 on Friday. The company has a market capitalization of $7.32 billion, a P/E ratio of 114.82 and a beta of 0.32. The company’s 50-day moving average is $44.43 and its 200 day moving average is $43.96. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.85 and a current ratio of 2.30. Alkermes has a fifty-two week low of $27.00 and a fifty-two week high of $55.67.

Insiders Place Their Bets

In other Alkermes news, EVP Craig Hopkinson sold 9,000 shares of Alkermes stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $46.99, for a total transaction of $422,910.00. Following the completion of the sale, the executive vice president owned 65,389 shares of the company’s stock, valued at $3,072,629.11. The trade was a 12.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nancy Lynn Md Snyderman sold 44,472 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director owned 15,395 shares of the company’s stock, valued at $775,138.25. The trade was a 74.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 76,150 shares of company stock worth $3,752,181. 4.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alkermes

Institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its position in shares of Alkermes by 340.2% in the third quarter. Sterling Capital Management LLC now owns 5,076 shares of the company’s stock worth $206,000 after purchasing an additional 3,923 shares during the period. James Investment Research Inc. grew its position in shares of Alkermes by 32.7% during the third quarter. James Investment Research Inc. now owns 13,650 shares of the company’s stock worth $553,000 after purchasing an additional 3,365 shares in the last quarter. Root Financial Partners LLC bought a new stake in Alkermes during the 3rd quarter valued at approximately $25,000. Nisa Investment Advisors LLC boosted its stake in Alkermes by 24.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,840 shares of the company’s stock worth $277,000 after purchasing an additional 1,359 shares during the period. Finally, Abel Hall LLC raised its position in shares of Alkermes by 5.0% during the third quarter. Abel Hall LLC now owns 8,757 shares of the company’s stock valued at $355,000 after buying an additional 417 shares during the last quarter. Institutional investors own 95.21% of the company’s stock.

About Alkermes

Alkermes plc (NASDAQ:ALKS) is a biopharmaceutical company focused on developing and commercializing medicines for central nervous system diseases. Its research and development activities address conditions including schizophrenia, bipolar disorder, addiction, depression and other neuropsychiatric disorders.

The company’s marketed products include Vivitrol, an extended-release injectable form of naltrexone used to treat alcohol dependence and prevent relapse to opioid dependence; Aristada and Aristada Initio, long-acting injectable formulations of aripiprazole lauroxil for the treatment of schizophrenia; and Lybalvi, a combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in 1987, Alkermes is incorporated in Ireland and maintains its corporate headquarters in Waltham, Massachusetts.