Analysts Set Alkermes plc (NASDAQ:ALKS) PT at $46.13

Shares of Alkermes plc (NASDAQ:ALKS) have earned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $46.1333.

ALKS has been the topic of a number of recent research reports. Royal Bank Of Canada increased their price objective on shares of 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 increased their price objective on shares of Alkermes from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. HC Wainwright reiterated a “neutral” rating and set a $43.00 price objective on shares of Alkermes in a research note on Thursday, February 26th. Robert W. Baird increased their price objective on shares of Alkermes from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded Alkermes from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th.

Alkermes Stock Down 0.6%

NASDAQ:ALKS opened at $44.09 on Friday. Alkermes has a 1-year low of $25.17 and a 1-year high of $45.76. The company has a 50-day moving average of $37.47 and a 200 day moving average of $32.96. The firm has a market cap of $7.35 billion, a PE ratio of 48.99 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70.

Alkermes (NASDAQ:ALKS) last released its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share for the quarter. Alkermes had a net margin of 9.78% and a return on equity of 9.26%. The company had revenue of $384.55 million during the quarter. As a group, research analysts anticipate that Alkermes will post -0.43 EPS for the current fiscal year.

Insider Activity at Alkermes

In related news, Director Christopher I. Wright sold 2,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the sale, the director owned 25,680 shares of the company’s stock, valued at $1,158,168. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $41.67, for a total value of $375,030.00. Following the sale, the executive vice president directly owned 77,389 shares in the company, valued at approximately $3,224,799.63. The trade was a 10.42% 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 35,102 shares of company stock valued at $1,310,828 over the last quarter. 4.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkermes

Institutional investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP lifted its stake in shares of Alkermes by 23.7% during the fourth quarter. Baker BROS. Advisors LP now owns 10,012,267 shares of the company’s stock worth $280,143,000 after buying an additional 1,920,916 shares during the period. State Street Corp lifted its holdings in shares of Alkermes by 10.9% during the fourth quarter. State Street Corp now owns 9,472,858 shares of the company’s stock worth $265,051,000 after purchasing an additional 932,507 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Alkermes by 6.0% during the fourth quarter. Renaissance Technologies LLC now owns 6,668,028 shares of the company’s stock worth $186,571,000 after purchasing an additional 375,500 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alkermes by 32.0% during the fourth quarter. JPMorgan Chase & Co. now owns 5,184,547 shares of the company’s stock worth $145,064,000 after purchasing an additional 1,256,377 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Alkermes by 2.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,522,378 shares of the company’s stock worth $159,850,000 after purchasing an additional 109,595 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

Alkermes Company Profile

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.