Brokerages Set Alkermes plc (NASDAQ:ALKS) Price Target at $30.44

Alkermes plc (NASDAQ:ALKSGet Rating) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $30.44.

A number of brokerages have commented on ALKS. Piper Sandler began coverage on shares of Alkermes in a report on Tuesday, August 16th. They set a “neutral” rating and a $26.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of Alkermes to $28.00 in a report on Wednesday, July 27th. Mizuho decreased their price objective on shares of Alkermes from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Finally, StockNews.com lowered shares of Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 24th.

Insider Activity at Alkermes

In related news, SVP Christian Todd Nichols sold 7,474 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $28.26, for a total value of $211,215.24. Following the sale, the senior vice president now directly owns 21,035 shares in the company, valued at approximately $594,449.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkermes

Several hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its holdings in Alkermes by 100.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,000 shares of the company’s stock worth $26,000 after buying an additional 500 shares during the period. Bailard Inc. raised its holdings in shares of Alkermes by 6.1% in the first quarter. Bailard Inc. now owns 10,487 shares of the company’s stock valued at $276,000 after purchasing an additional 600 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Alkermes by 132.0% in the second quarter. Exchange Traded Concepts LLC now owns 1,506 shares of the company’s stock valued at $45,000 after purchasing an additional 857 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Alkermes in the second quarter valued at approximately $27,000. Finally, Ensign Peak Advisors Inc raised its holdings in shares of Alkermes by 3.1% in the first quarter. Ensign Peak Advisors Inc now owns 31,000 shares of the company’s stock valued at $816,000 after purchasing an additional 930 shares during the last quarter. 94.77% of the stock is currently owned by institutional investors and hedge funds.

Alkermes Stock Down 0.2 %

ALKS opened at $24.01 on Thursday. The firm’s 50-day simple moving average is $26.91 and its 200-day simple moving average is $27.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.03 and a current ratio of 2.39. Alkermes has a twelve month low of $21.24 and a twelve month high of $33.00. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -42.12 and a beta of 0.61.

Alkermes (NASDAQ:ALKSGet Rating) last posted its earnings results on Wednesday, July 27th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. Alkermes had a negative net margin of 8.02% and a positive return on equity of 0.79%. The business had revenue of $276.22 million for the quarter, compared to analyst estimates of $269.01 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. Equities research analysts anticipate that Alkermes will post -0.34 EPS for the current fiscal year.

Alkermes Company Profile

(Get Rating)

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in various therapeutic areas in the United States, Ireland, and internationally. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; VIVITROL for the treatment of alcohol and prevention of opioid dependence; RISPERDAL CONSTA for the treatment of schizophrenia and bipolar I disorder; INVEGA SUSTENNA for the treatment of schizophrenia and schizoaffective disorder; XEPLION, INVEGA TRINZA, and TREVICTA to treat schizophrenia and schizoaffective; and VUMERITY for the treatment of relapsing forms of multiple sclerosis in adults, including clinically isolated syndrome, relapsing-remitting and active secondary progressive diseases.

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Analyst Recommendations for Alkermes (NASDAQ:ALKS)

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