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

Shares of Alkermes plc (NASDAQ:ALKS) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $44.6923.

Several research firms have commented on ALKS. HC Wainwright reaffirmed a “neutral” rating on shares of Alkermes in a report on Wednesday, October 22nd. Needham & Company LLC upped their price target on shares of Alkermes from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Mizuho raised their price objective on shares of Alkermes from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Alkermes in a research note on Monday, December 29th. Finally, Zacks Research upgraded Alkermes from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 9,000 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $33.93, for a total value of $305,370.00. Following the sale, the executive vice president directly owned 57,740 shares of the company’s stock, valued at approximately $1,959,118.20. This represents a 13.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shane Cooke sold 61,200 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $34.57, for a total transaction of $2,115,684.00. Following the completion of the sale, the director owned 103,744 shares in the company, valued at $3,586,430.08. This represents a 37.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 148,148 shares of company stock valued at $5,028,378. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. grew its position in Alkermes by 933.8% in the third quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after acquiring an additional 747 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Alkermes in the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. bought a new stake in Alkermes during the 3rd quarter valued at $31,000. Salomon & Ludwin LLC raised its stake in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock valued at $35,000 after acquiring an additional 667 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in Alkermes by 395.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after purchasing an additional 989 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

Alkermes Price Performance

Shares of ALKS opened at $34.91 on Monday. Alkermes has a 1 year low of $25.17 and a 1 year high of $36.45. The stock’s fifty day moving average price is $30.35 and its two-hundred day moving average price is $29.61. The firm has a market cap of $5.76 billion, a PE ratio of 17.28 and a beta of 0.49.

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.