Alkermes plc (NASDAQ:ALKS) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Alkermes plc (NASDAQ:ALKS) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.42.

ALKS has been the subject of several analyst reports. JPMorgan Chase & Co. cut 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. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and increased their target price for the company from $25.00 to $36.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group decreased their price target on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Mizuho boosted their target price on Alkermes from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, HC Wainwright reissued a “neutral” rating and set a $37.00 price target on shares of Alkermes in a research report on Friday, October 25th.

Alkermes Stock Down 2.3 %

ALKS opened at $30.60 on Wednesday. The company’s 50-day moving average price is $28.39 and its two-hundred day moving average price is $26.82. Alkermes has a twelve month low of $22.90 and a twelve month high of $32.88. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.05 and a beta of 0.49. 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 Activity

In related news, Director Cato T. Laurencin sold 2,691 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.85, for a total transaction of $85,708.35. Following the completion of the transaction, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Craig C. Hopkinson sold 58,996 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.08, for a total value of $1,774,599.68. Following the transaction, the executive vice president now directly owns 83,300 shares of the company’s stock, valued at approximately $2,505,664. The trade was a 41.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,738 shares of company stock valued at $4,572,904 in the last 90 days. Company insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in Alkermes by 31.8% in the 2nd quarter. Pacer Advisors Inc. now owns 5,640,642 shares of the company’s stock worth $135,939,000 after acquiring an additional 1,362,079 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Alkermes by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,884,012 shares of the company’s stock worth $69,507,000 after buying an additional 371,039 shares during the last quarter. Armistice Capital LLC lifted its position in Alkermes by 301.5% during the 2nd quarter. Armistice Capital LLC now owns 2,699,179 shares of the company’s stock worth $65,050,000 after acquiring an additional 2,026,961 shares during the period. American Century Companies Inc. boosted its position in 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 buying an additional 1,025,905 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings 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 valued at $52,704,000 after acquiring an additional 1,478,422 shares during the last quarter. 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 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.