Alkermes (NASDAQ:ALKS) Raised to “Strong-Buy” at Mizuho

Alkermes (NASDAQ:ALKS) was upgraded by Mizuho to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

Several other research firms also recently issued reports on ALKS. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a research note on Thursday, July 30th. Royal Bank Of Canada raised their price objective on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research note on Tuesday, June 9th. Bank of America restated an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. TD Cowen upped their target price on Alkermes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, JPMorgan Chase & Co. increased their price target on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.56.

Alkermes Stock Performance

Alkermes stock opened at $46.71 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85. The company has a market cap of $7.84 billion, a P/E ratio of 122.92 and a beta of 0.31. Alkermes has a fifty-two week low of $26.99 and a fifty-two week high of $55.67. The firm’s 50 day simple moving average is $49.15 and its 200-day simple moving average is $41.84.

Insiders Place Their Bets

In other news, Director Nancy Lynn Md Snyderman sold 44,472 shares of Alkermes stock in a transaction dated Monday, August 3rd. The stock was 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 in the company, valued at approximately $775,138.25. The trade was a 74.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christian Nichols sold 7,576 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $49.23, for a total value of $372,966.48. Following the transaction, the senior vice president directly owned 102,193 shares of the company’s stock, valued at $5,030,961.39. This represents a 6.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 85,150 shares of company stock valued at $4,242,213. 4.59% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. bought a new position in Alkermes during the fourth quarter valued at about $28,000. Ameritas Advisory Services LLC acquired a new position in Alkermes in the 2nd quarter valued at approximately $39,000. Hantz Financial Services Inc. lifted its position in shares of Alkermes by 65.1% in the 4th quarter. Hantz Financial Services Inc. now owns 2,045 shares of the company’s stock worth $57,000 after acquiring an additional 806 shares during the period. Leonteq Securities AG bought a new stake in shares of Alkermes in the 4th quarter worth approximately $70,000. Finally, Versant Capital Management Inc grew its holdings in shares of Alkermes by 33.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock worth $76,000 after purchasing an additional 366 shares in the last quarter. 95.21% of the stock is owned by institutional investors.

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 include treatments for schizophrenia, bipolar disorder, addiction and other serious neurological or psychiatric conditions, with an emphasis on long-acting injectable and extended-release formulations.

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 after detoxification; ARISTADA, an extended-release injectable formulation of aripiprazole lauroxil for the treatment of schizophrenia in adults; and LYBALVI, an oral combination of olanzapine and samidorphan approved for schizophrenia and bipolar I disorder in adults.

Founded in Ireland in 1987, Alkermes has developed drug-delivery technologies intended to help extend dosing intervals and support medication adherence.