Alkermes PLC (NASDAQ:ALKS) shares shot up 3.1% during trading on Tuesday . The stock traded as high as $46.88 and last traded at $46.76, with a volume of 608,266 shares. The stock had previously closed at $45.35.

Several research firms recently issued reports on ALKS. Jefferies Group restated a “buy” rating on shares of Alkermes PLC in a research note on Sunday, July 17th. Cowen and Company began coverage on Alkermes PLC in a research note on Thursday, May 5th. They issued a “market perform” rating for the company. Morgan Stanley restated a “sell” rating on shares of Alkermes PLC in a research note on Saturday, April 30th. Leerink Swann restated an “outperform” rating and issued a $58.00 price target on shares of Alkermes PLC in a research note on Wednesday, May 25th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Alkermes PLC in a research note on Thursday, June 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.30.

The firm’s market capitalization is $6.74 billion. The company has a 50-day moving average price of $47.86 and a 200-day moving average price of $40.63.

Alkermes PLC (NASDAQ:ALKS) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.09. The business had revenue of $195.20 million for the quarter, compared to analysts’ expectations of $174.15 million. The business’s revenue was up 28.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share. Equities analysts expect that Alkermes PLC will post ($0.21) earnings per share for the current fiscal year.

In related news, Director Paul J. Mitchell sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $49.48, for a total transaction of $98,960.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at $494,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Elliot Ehrich sold 35,199 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $51.95, for a total value of $1,828,588.05. Following the sale, the chief marketing officer now directly owns 46,111 shares of the company’s stock, valued at $2,395,466.45. The disclosure for this sale can be found here.

Several hedge funds have modified their holdings of ALKS. Utah Retirement Systems increased its stake in shares of Alkermes PLC by 0.8% in the fourth quarter. Utah Retirement Systems now owns 26,700 shares of the company’s stock worth $2,119,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Alkermes PLC by 4.8% in the fourth quarter. Advisors Asset Management Inc. now owns 23,604 shares of the company’s stock valued at $1,874,000 after buying an additional 1,084 shares during the period. Finally, Morgan Stanley raised its position in shares of Alkermes PLC by 90.0% in the fourth quarter. Morgan Stanley now owns 278,819 shares of the company’s stock valued at $22,134,000 after buying an additional 132,076 shares during the period.

Alkermes Public Limited Company is a biopharmaceutical company. The Company is engaged in researching, developing and commercializing, both with partners and on its own, pharmaceutical products that are designed to address medical needs of patients in therapeutic areas. The Company has a portfolio of approximately 20 products and a clinical pipeline of product candidates that address central nervous system (CNS) disorders, such as schizophrenia, depression, addiction and multiple sclerosis.

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