Alkermes plc (NASDAQ:ALKS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $44.2857.

Several research firms have recently commented on ALKS. Truist Financial upgraded shares of Alkermes to a “strong-buy” rating in a report on Wednesday, March 25th. Wall Street Zen lowered shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings upgraded shares of Alkermes from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Zacks Research raised shares of Alkermes from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, HC Wainwright reissued a “neutral” rating and set a $43.00 target price on shares of Alkermes in a research report on Thursday, February 26th.

Insider Activity

In other Alkermes news, Director Shane Cooke sold 61,200 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the completion of the transaction, the director directly owned 103,744 shares in the company, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Christian Todd Nichols sold 6,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $30.00, for a total transaction of $180,000.00. Following the sale, the senior vice president directly owned 109,769 shares of the company’s stock, valued at $3,293,070. This represents a 5.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 168,468 shares of company stock valued at $5,734,299. 4.59% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

A number of hedge funds have recently modified their holdings of ALKS. Royal Bank of Canada grew its holdings in shares of Alkermes by 117.2% in the first quarter. Royal Bank of Canada now owns 275,526 shares of the company’s stock valued at $9,098,000 after purchasing an additional 148,696 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Alkermes during the first quarter worth about $213,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Alkermes by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 482,332 shares of the company’s stock worth $15,927,000 after buying an additional 20,091 shares during the period. Cetera Investment Advisers boosted its stake in Alkermes by 32.3% during the second quarter. Cetera Investment Advisers now owns 13,907 shares of the company’s stock worth $398,000 after buying an additional 3,394 shares during the period. Finally, Quantbot Technologies LP boosted its stake in Alkermes by 539.4% during the second quarter. Quantbot Technologies LP now owns 6,976 shares of the company’s stock worth $200,000 after buying an additional 5,885 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

Shares of ALKS opened at $33.38 on Friday. Alkermes has a 1-year low of $25.17 and a 1-year high of $36.48. The company has a 50-day moving average of $31.44 and a 200 day moving average of $30.96. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 23.34 and a beta of 0.31.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The business had revenue of $384.55 million during the quarter. On average, equities analysts anticipate that Alkermes will post -0.69 earnings per share for the current fiscal year.

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.