Alkermes plc (NASDAQ:ALKS) Given Average Recommendation of “Moderate Buy” by Analysts

Alkermes plc (NASDAQ:ALKS) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $32.00.

A number of brokerages have recently weighed in on ALKS. HC Wainwright restated a “neutral” rating and issued a $34.00 target price on shares of Alkermes in a research note on Thursday, July 27th. Piper Sandler dropped their price objective on Alkermes from $37.00 to $35.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. UBS Group assumed coverage on Alkermes in a research note on Tuesday, October 17th. They issued a “neutral” rating and a $31.00 price objective on the stock. StockNews.com downgraded Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Finally, Evercore ISI upgraded Alkermes from an “in-line” rating to an “outperform” rating in a research note on Tuesday, October 24th.

Alkermes Price Performance

Shares of NASDAQ ALKS opened at $24.99 on Tuesday. Alkermes has a twelve month low of $22.01 and a twelve month high of $33.71. The stock’s 50 day moving average price is $27.77 and its 200-day moving average price is $29.25. The company has a market capitalization of $4.17 billion, a PE ratio of 20.15 and a beta of 0.62. The company has a quick ratio of 2.53, a current ratio of 2.91 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Alkermes

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new position in shares of Alkermes in the first quarter worth $4,369,000. Raymond James & Associates increased its holdings in shares of Alkermes by 132.4% in the first quarter. Raymond James & Associates now owns 32,763 shares of the company’s stock worth $862,000 after purchasing an additional 18,667 shares during the period. US Bancorp DE increased its holdings in shares of Alkermes by 24.0% in the first quarter. US Bancorp DE now owns 10,571 shares of the company’s stock worth $279,000 after purchasing an additional 2,044 shares during the period. Bank of Montreal Can bought a new position in shares of Alkermes in the first quarter worth $203,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Alkermes by 660.7% in the first quarter. Acadian Asset Management LLC now owns 21,945 shares of the company’s stock worth $576,000 after purchasing an additional 19,060 shares during the period. 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 the fields of neuroscience and oncology in the United States, Ireland, and internationally. It has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder and a pipeline of product candidates in development for neurological disorders and cancer.