Alkermes plc (NASDAQ:ALKS) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $36.00.

Several equities research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group cut their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and set a $37.00 price objective (down previously from $38.00) on shares of Alkermes in a research note on Friday, October 25th. HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 25th.

Alkermes Stock Down 0.4 %

Shares of NASDAQ:ALKS opened at $28.42 on Friday. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.49. The company has a 50 day moving average of $29.26 and a two-hundred day moving average of $27.64. Alkermes has a 52-week low of $22.90 and a 52-week high of $32.88. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling

In other news, Director Cato T. Laurencin sold 2,691 shares of Alkermes stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $31.85, for a total transaction of $85,708.35. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Craig C. Hopkinson sold 61,151 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $32.07, for a total value of $1,961,112.57. Following the completion of the transaction, the executive vice president now directly owns 47,576 shares of the company’s stock, valued at $1,525,762.32. This trade represents a 56.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,738 shares of company stock worth $4,572,904 over the last quarter. 4.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC increased its holdings in shares of Alkermes by 301.5% during the second quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock valued at $65,050,000 after purchasing an additional 2,026,961 shares during the period. Loomis Sayles & Co. L P lifted its stake in shares of Alkermes by 365.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,882,936 shares of the company’s stock worth $52,704,000 after acquiring an additional 1,478,422 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Alkermes by 31.8% in the second quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock valued at $135,939,000 after acquiring an additional 1,362,079 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Alkermes by 87.1% in the second quarter. American Century Companies Inc. now owns 2,203,456 shares of the company’s stock valued at $53,103,000 after acquiring an additional 1,025,905 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new stake in Alkermes in the third quarter worth approximately $16,126,000. Institutional investors and hedge funds 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.