Alkermes’ (ALKS) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

Alkermes (NASDAQ:ALKS)‘s stock had its “neutral” rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Monday,Benzinga reports. They currently have a $60.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.52% from the company’s previous close.

Several other equities analysts have also commented on the company. Piper Sandler reduced their price objective on Alkermes from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 24th. Wells Fargo & Company upped their target price on Alkermes from $44.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Weiss Ratings cut shares of Alkermes from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Needham & Company LLC lifted their price target on shares of Alkermes from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Bank of America restated an “underperform” rating on shares of Alkermes in a report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.19.

Alkermes Stock Performance

NASDAQ ALKS opened at $51.94 on Monday. Alkermes has a 52-week low of $25.17 and a 52-week high of $55.67. The company has a fifty day moving average of $43.75 and a 200-day moving average of $35.81. The company has a market capitalization of $8.66 billion, a P/E ratio of 57.71 and a beta of 0.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.70 and a current ratio of 2.27.

Alkermes (NASDAQ:ALKS) last released its earnings results on Saturday, February 14th. The company reported $0.29 EPS for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%.The business had revenue of $384.55 million for the quarter. As a group, equities research analysts predict that Alkermes will post -0.42 EPS for the current fiscal year.

Insider Activity

In related news, EVP David Joseph Gaffin sold 2,034 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $54.03, for a total transaction of $109,897.02. Following the completion of the sale, the executive vice president directly owned 227,490 shares in the company, valued at $12,291,284.70. This represents a 0.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 that occurred on Wednesday, July 1st. The stock was sold at an average price of $51.51, for a total value of $463,590.00. Following the transaction, the executive vice president owned 73,389 shares in the company, valued at approximately $3,780,267.39. The trade was a 10.92% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 35,102 shares of company stock valued at $1,494,410. Insiders own 4.59% of the company’s stock.

Institutional Investors Weigh In On Alkermes

A number of large investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC increased its position in shares of Alkermes by 2.7% in the fourth quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after acquiring an additional 315 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Alkermes by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after purchasing an additional 351 shares during the period. Versant Capital Management Inc grew its stake in shares of Alkermes by 33.9% in the second quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock worth $76,000 after purchasing an additional 366 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in shares of Alkermes by 4.5% in the third quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after purchasing an additional 376 shares during the last quarter. Finally, Horizon Investments LLC increased its holdings in Alkermes by 0.9% during the 3rd quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after purchasing an additional 387 shares during the period. Institutional investors own 95.21% of the company’s stock.

About Alkermes

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.