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

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average rating of “Moderate Buy” by the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $38.50.

ALKS has been the topic of several recent research reports. UBS Group upgraded Alkermes from a “sell” rating to a “neutral” rating and boosted their price target for the company from $21.00 to $38.00 in a research report on Tuesday, March 4th. Royal Bank of Canada began coverage on shares of Alkermes in a research note on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price objective on the stock. The Goldman Sachs Group raised their price target on Alkermes from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. HC Wainwright reiterated a “neutral” rating and set a $46.00 price target on shares of Alkermes in a report on Thursday, February 13th. Finally, StockNews.com raised shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 13th.

Alkermes Trading Up 2.0 %

Shares of Alkermes stock opened at $27.54 on Tuesday. Alkermes has a twelve month low of $22.90 and a twelve month high of $36.45. The firm has a market capitalization of $4.54 billion, a PE ratio of 12.69, a P/E/G ratio of 2.20 and a beta of 0.39. The firm’s 50-day moving average price is $33.06 and its 200 day moving average price is $30.47.

Alkermes (NASDAQ:ALKS) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. On average, sell-side analysts predict that Alkermes will post 1.31 EPS for the current fiscal year.

Insider Activity at Alkermes

In other news, EVP Craig C. Hopkinson sold 100,918 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the sale, the executive vice president now owns 44,290 shares of the company’s stock, valued at $1,419,494.50. This represents a 69.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkermes

Institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new stake in Alkermes in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its position in shares of Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after purchasing an additional 842 shares during the period. Blue Trust Inc. boosted its position in Alkermes by 2,231.5% during the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after acquiring an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock valued at $85,000 after purchasing an additional 2,502 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Alkermes in the 4th quarter valued at $98,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

About Alkermes

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.