Alkermes plc (NASDAQ:ALKS) Given Average Recommendation of “Moderate Buy” by Analysts

Alkermes plc (NASDAQ:ALKS) has received an average rating of “Moderate Buy” from the thirteen research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $39.38.

Several equities analysts recently weighed in on ALKS shares. The Goldman Sachs Group lifted their target price on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 14th. StockNews.com raised Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada began coverage on Alkermes in a research note on Thursday, March 13th. They set a “sector perform” rating and a $40.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, HC Wainwright reiterated a “neutral” rating and issued a $46.00 price target on shares of Alkermes in a research report on Thursday, February 13th.

Alkermes Trading Down 0.5 %

ALKS opened at $33.53 on Friday. The company’s 50 day moving average is $33.38 and its 200 day moving average is $30.22. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.20 and a beta of 0.62. Alkermes has a 12-month low of $22.90 and a 12-month high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. As a group, analysts predict that Alkermes will post 1.31 EPS for the current fiscal year.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the completion of the transaction, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkermes

Hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC bought a new stake in Alkermes in the fourth quarter worth $25,000. EverSource Wealth Advisors LLC lifted its position in Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after purchasing an additional 842 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Alkermes by 2,231.5% in the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after buying an additional 1,629 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Alkermes by 558.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after buying an additional 2,502 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of Alkermes in the 4th quarter valued at about $98,000. 95.21% of the stock is 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.