Alkermes plc (NASDAQ:ALKS) Given Average Rating of “Moderate Buy” by Brokerages

Alkermes plc (NASDAQ:ALKS) has been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $46.40.

ALKS has been the topic of a number of recent research reports. Wall Street Zen cut shares of Alkermes from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Wells Fargo & Company raised their price objective on shares of Alkermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Robert W. Baird raised their price objective on shares of Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a research note on Thursday. Finally, Piper Sandler reduced their price objective on shares of Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 24th.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $35.51, for a total value of $319,590.00. Following the transaction, the executive vice president directly owned 85,389 shares of the company’s stock, valued at approximately $3,032,163.39. This trade represents a 9.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $33.20, for a total transaction of $67,528.80. Following the completion of the transaction, the executive vice president directly owned 231,558 shares in the company, valued at approximately $7,687,725.60. The trade was a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 35,102 shares of company stock valued at $1,310,828. 4.59% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkermes

Several hedge funds have recently bought and sold shares of ALKS. Norges Bank acquired a new stake in Alkermes in the fourth quarter worth $54,442,000. Baker BROS. Advisors LP raised its holdings in Alkermes by 23.7% in the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after purchasing an additional 1,920,916 shares during the period. UBS Group AG raised its holdings in Alkermes by 237.4% in the fourth quarter. UBS Group AG now owns 2,544,895 shares of the company’s stock worth $71,206,000 after purchasing an additional 1,790,729 shares during the period. First Trust Advisors LP raised its holdings in Alkermes by 104.2% in the first quarter. First Trust Advisors LP now owns 2,968,785 shares of the company’s stock worth $104,976,000 after purchasing an additional 1,514,783 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Alkermes by 32.0% in the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after purchasing an additional 1,256,377 shares during the period. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Price Performance

ALKS opened at $44.99 on Friday. Alkermes has a one year low of $25.17 and a one year high of $45.76. The stock has a market capitalization of $7.50 billion, a P/E ratio of 49.99 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70. The company’s 50 day simple moving average is $38.13 and its 200-day simple moving average is $33.25.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The firm had revenue of $384.55 million for the quarter. Sell-side analysts anticipate that Alkermes will post -0.43 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.