Alkermes plc (ALKS) – What Are Analysts Thinking About This Stock?

Alkermes plc (NASDAQ:ALKS) has been assigned an average rating of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $54.47.

ALKS has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 price target on shares of Alkermes in a research note on Thursday, September 24th. TD Cowen reaffirmed a “buy” rating on shares of Alkermes in a research report on Monday, September 21st. Piper Sandler reiterated an “overweight” rating and issued a $65.00 price objective (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research report on Monday, September 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $62.00 price objective on shares of Alkermes in a research report on Monday, September 21st.

Alkermes Price Performance

NASDAQ:ALKS opened at $43.48 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.30 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $44.65 and its two-hundred day moving average price is $43.89. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 114.42 and a beta of 0.32. Alkermes has a 12-month low of $27.00 and a 12-month high of $55.67.

Insider Activity at Alkermes

In other Alkermes news, Director Nancy Lynn Md Snyderman sold 44,472 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $50.35, for a total value of $2,239,165.20. Following the transaction, the director directly owned 15,395 shares of the company’s stock, valued at $775,138.25. This represents a 74.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $46.99, for a total transaction of $422,910.00. Following the sale, the executive vice president owned 65,389 shares of the company’s stock, valued at $3,072,629.11. This trade represents a 12.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders 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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Alkermes by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock worth $159,850,000 after purchasing an additional 109,595 shares during the last quarter. Commodore Capital LP increased its position in Alkermes by 18.3% during the 1st quarter. Commodore Capital LP now owns 4,200,000 shares of the company’s stock worth $148,512,000 after buying an additional 650,000 shares during the period. First Trust Advisors LP increased its position in Alkermes by 104.2% during the 1st quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after buying an additional 1,514,783 shares during the period. Affinity Asset Advisors LLC lifted its holdings in shares of Alkermes by 35.0% during the first quarter. Affinity Asset Advisors LLC now owns 1,350,000 shares of the company’s stock worth $47,736,000 after buying an additional 350,000 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Alkermes by 1.1% during the first quarter. Principal Financial Group Inc. now owns 958,016 shares of the company’s stock worth $33,875,000 after buying an additional 10,393 shares in the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Company Profile

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.