Alkermes plc (NASDAQ:ALKS) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Alkermes plc (NASDAQ:ALKS) has been given a consensus rating of “Moderate Buy” by the nineteen research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $54.47.

Several brokerages have weighed in on ALKS. Robert W. Baird upped their target price on shares of Alkermes from $58.00 to $61.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company lifted their price target on shares of Alkermes from $44.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Mizuho raised Alkermes to a “strong-buy” rating in a research note on Wednesday, September 16th. Stifel Nicolaus restated a “buy” rating and issued a $63.00 price target (up from $45.00) on shares of Alkermes in a report on Monday, July 20th. Finally, JPMorgan Chase & Co. raised their price objective on Alkermes from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th.

Insider Transactions at Alkermes

In other news, EVP Craig Hopkinson sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $46.99, for a total value of $422,910.00. Following the completion of the transaction, the executive vice president owned 65,389 shares in the company, valued at $3,072,629.11. This trade represents a 12.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christian Nichols sold 7,576 shares of Alkermes stock in a transaction on 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 trade represents a 6.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 85,150 shares of company stock valued at $4,242,213 in the last three months. 4.59% of the stock is owned by company insiders.

Institutional Trading of Alkermes

Several institutional investors and hedge funds have recently modified their holdings of ALKS. Ameritas Advisory Services LLC acquired a new stake in shares of Alkermes in the second quarter valued at approximately $39,000. Cullen Frost Bankers Inc. acquired a new stake in Alkermes during the 4th quarter valued at $28,000. Versant Capital Management Inc grew its holdings in Alkermes by 33.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock valued at $76,000 after buying an additional 366 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in Alkermes during the second quarter worth $82,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in Alkermes during the second quarter worth $104,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Trading Up 0.1%

Shares of ALKS stock opened at $40.85 on Tuesday. The business’s fifty day moving average price is $48.00 and its 200 day moving average price is $42.31. Alkermes has a 1-year low of $27.00 and a 1-year high of $55.67. The firm has a market capitalization of $6.85 billion, a PE ratio of 107.50 and a beta of 0.31. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.30 and a quick ratio of 1.85.

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.