Alkermes (NASDAQ:ALKS) Price Target Cut to $33.00 by Analysts at UBS Group

Alkermes (NASDAQ:ALKS) had its price target cut by UBS Group from $38.00 to $33.00 in a research report report published on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on ALKS. StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Royal Bank of Canada assumed coverage on Alkermes in a report on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 target price for the company. The Goldman Sachs Group increased their price target on Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft upped their price objective on Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Finally, HC Wainwright reiterated a “neutral” rating and set a $46.00 target price on shares of Alkermes in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alkermes presently has an average rating of “Moderate Buy” and a consensus target price of $38.08.

Alkermes Stock Performance

Shares of ALKS opened at $27.91 on Monday. The firm has a market capitalization of $4.60 billion, a P/E ratio of 12.86, a P/E/G ratio of 2.20 and a beta of 0.39. Alkermes has a 52 week low of $22.90 and a 52 week high of $36.45. The stock has a 50 day moving average price of $31.76 and a two-hundred day moving average price of $30.43.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. On average, equities analysts forecast that Alkermes will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Craig C. Hopkinson sold 144,419 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the sale, the executive vice president now owns 57,875 shares of the company’s stock, valued at approximately $2,056,298.75. This represents a 71.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkermes

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Venturi Wealth Management LLC bought a new position in shares of Alkermes in the 4th quarter worth $25,000. USA Financial Formulas bought a new position in shares of Alkermes during the 1st quarter valued at about $49,000. Fifth Third Bancorp raised its holdings in shares of Alkermes by 54.4% during the 1st quarter. Fifth Third Bancorp now owns 1,479 shares of the company’s stock valued at $49,000 after buying an additional 521 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Alkermes by 2,231.5% in the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after buying an additional 1,629 shares in the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Company Profile

Alkermes plc, a biopharmaceutical company, researches, develops, and commercializes pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of clinical and preclinical product candidates in development for neurological disorders.