Alkermes (NASDAQ:ALKS) Sets New 12-Month High – Time to Buy?

Shares of Alkermes plc (NASDAQ:ALKS) reached a new 52-week high during trading on Wednesday . The company traded as high as $36.48 and last traded at $35.8410, with a volume of 572154 shares traded. The stock had previously closed at $35.36.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALKS shares. Wolfe Research assumed coverage on shares of Alkermes in a research note on Monday, February 23rd. They set an “outperform” rating and a $45.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research note on Monday, December 29th. HC Wainwright reissued a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a report on Thursday, February 26th. Zacks Research downgraded Alkermes from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th. Finally, Royal Bank Of Canada reduced their target price on Alkermes from $47.00 to $45.00 and set an “outperform” rating for the company in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.93.

Alkermes Stock Performance

The company’s fifty day moving average is $31.36 and its two-hundred day moving average is $30.25. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 25.14, a P/E/G ratio of 7.52 and a beta of 0.53.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.14). The business had revenue of $384.55 million for the quarter, compared to analyst estimates of $380.44 million. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The business’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. On average, sell-side analysts anticipate that Alkermes plc will post 1.31 EPS for the current fiscal year.

Insider Buying and Selling at Alkermes

In related news, EVP Craig C. Hopkinson sold 9,000 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $33.93, for a total transaction of $305,370.00. Following the completion of the transaction, the executive vice president directly owned 57,740 shares in the company, valued at $1,959,118.20. The trade was a 13.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $29.29, for a total transaction of $59,575.86. Following the completion of the sale, the executive vice president directly owned 237,660 shares in the company, valued at approximately $6,961,061.40. The trade was a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 157,434 shares of company stock worth $5,305,794. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Alkermes

A number of hedge funds have recently modified their holdings of ALKS. Assetmark Inc. grew its holdings in Alkermes by 933.8% during the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after acquiring an additional 747 shares during the period. Cullen Frost Bankers Inc. acquired a new position in Alkermes in the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. acquired a new position in Alkermes in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its position in Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock worth $34,000 after purchasing an additional 446 shares in the last quarter. Finally, Salomon & Ludwin LLC boosted its position in Alkermes by 115.6% in the 4th quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after purchasing an additional 667 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

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.