Alkermes (NASDAQ:ALKS) Given New $40.00 Price Target at Mizuho

Alkermes (NASDAQ:ALKS) had its price target upped by stock analysts at Mizuho from $35.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 36.85% from the company’s current price.

Several other research analysts also recently commented on ALKS. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and raised their price objective for the stock from $25.00 to $36.00 in a research note on Tuesday, November 5th. StockNews.com raised Alkermes from a “hold” rating to a “buy” rating in a research note on Sunday, July 28th. The Goldman Sachs Group decreased their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Robert W. Baird lifted their target price on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Alkermes Stock Down 2.8 %

NASDAQ ALKS opened at $29.23 on Wednesday. The stock’s 50-day moving average price is $27.69 and its 200-day moving average price is $26.13. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. Alkermes has a 52 week low of $22.06 and a 52 week high of $32.88. The company has a market capitalization of $4.73 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.00 and a beta of 0.47.

Insider Buying and Selling at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the completion of the transaction, the executive vice president now owns 83,300 shares in the company, valued at $2,505,664. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the completion of the transaction, the executive vice president now owns 83,300 shares in the company, valued at $2,505,664. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Craig C. Hopkinson sold 10,471 shares of Alkermes stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total value of $309,208.63. Following the completion of the transaction, the executive vice president now owns 99,238 shares of the company’s stock, valued at approximately $2,930,498.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alkermes

A number of institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new position in Alkermes during the 3rd quarter valued at $29,000. Signaturefd LLC boosted its stake in shares of Alkermes by 51.2% during the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of Alkermes by 3,841.0% during the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC boosted its stake in shares of Alkermes by 44.4% during the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Alkermes during the second quarter valued at $116,000. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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.