Alkermes (NASDAQ:ALKS) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Alkermes (NASDAQ:ALKS) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $40.00 price objective on the stock.

ALKS has been the topic of several other reports. Piper Sandler restated an “overweight” rating and issued a $37.00 target price (down from $38.00) on shares of Alkermes in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Cantor Fitzgerald lowered their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. HC Wainwright reiterated a “neutral” rating and issued a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th. Finally, The Goldman Sachs Group reduced their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.08.

Alkermes Stock Performance

Shares of ALKS opened at $36.00 on Tuesday. The firm has a market cap of $5.82 billion, a PE ratio of 18.46, a PEG ratio of 1.83 and a beta of 0.49. The stock’s fifty day moving average price is $30.21 and its two-hundred day moving average price is $28.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.45 and a quick ratio of 3.03. Alkermes has a 1 year low of $22.90 and a 1 year high of $36.06.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 24.92% and a net margin of 22.15%. On average, equities research analysts forecast that Alkermes will post 2.23 EPS for the current year.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 61,151 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $32.07, for a total transaction of $1,961,112.57. Following the completion of the transaction, the executive vice president now directly owns 47,576 shares in the company, valued at $1,525,762.32. The trade was a 56.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. The trade was a 7.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,189 shares of company stock worth $5,723,518 over the last ninety days. 4.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently modified their holdings of the company. Centiva Capital LP purchased a new position in shares of Alkermes in the 3rd quarter worth about $367,000. Natixis Advisors LLC boosted its holdings in shares of Alkermes by 190.3% in the 3rd quarter. Natixis Advisors LLC now owns 36,490 shares of the company’s stock worth $1,021,000 after purchasing an additional 23,921 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Alkermes by 128.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 56,261 shares of the company’s stock worth $1,575,000 after purchasing an additional 31,687 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Alkermes by 254.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 32,791 shares of the company’s stock worth $944,000 after purchasing an additional 23,541 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Alkermes by 74.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 149,493 shares of the company’s stock worth $4,184,000 after purchasing an additional 63,939 shares in the last quarter. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

About Alkermes

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.