Analysts Set Alkermes plc (NASDAQ:ALKS) Target Price at $38.46

Alkermes plc (NASDAQ:ALKS) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $39.38.

ALKS has been the subject of a number of research reports. Royal Bank of Canada initiated coverage on Alkermes in a report on Thursday, March 13th. They issued a “sector perform” rating and a $40.00 price objective for the company. HC Wainwright reiterated a “neutral” rating and set a $46.00 price target on shares of Alkermes in a research report on Thursday, February 13th. UBS Group raised shares of Alkermes from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $21.00 to $38.00 in a research note on Tuesday, March 4th. The Goldman Sachs Group upped their price objective on shares of Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Alkermes from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday.

Insider Activity

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total transaction of $5,131,207.07. Following the transaction, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at $2,056,298.75. This represents a 71.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC purchased a new position in shares of Alkermes during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC grew its position in 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. raised its stake in Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after buying an additional 1,629 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 2,502 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Alkermes in the 4th quarter worth $98,000. Institutional investors own 95.21% of the company’s stock.

Alkermes Trading Down 0.5 %

Shares of NASDAQ ALKS opened at $33.53 on Friday. The business has a 50-day moving average of $33.38 and a 200-day moving average of $30.22. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 2.20 and a beta of 0.62. Alkermes has a 12 month low of $22.90 and a 12 month high of $36.45.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 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, analysts predict that Alkermes will post 1.31 earnings per share for the current year.

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.