Alkermes plc (NASDAQ:ALKS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Alkermes plc (NASDAQ:ALKS) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several research analysts recently weighed in on ALKS shares. The Goldman Sachs Group dropped their price target on Alkermes from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and upped their target price for the stock from $25.00 to $36.00 in a research report on Tuesday, November 5th. Cantor Fitzgerald dropped their target price on Alkermes from $48.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. dropped their target price on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research report on Friday, October 25th.

Alkermes Stock Down 2.4 %

NASDAQ:ALKS opened at $30.76 on Thursday. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.68 and a beta of 0.49. Alkermes has a 1-year low of $22.90 and a 1-year high of $32.88. The company has a current ratio of 3.45, a quick ratio of 3.03 and a debt-to-equity ratio of 0.22. The business’s fifty day moving average price is $29.87 and its 200 day moving average price is $28.38.

Insider Activity at Alkermes

In related news, EVP Craig C. Hopkinson sold 10,471 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.53, for a total transaction of $309,208.63. Following the completion of the sale, the executive vice president now owns 99,238 shares in the company, valued at $2,930,498.14. This represents a 9.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cato T. Laurencin sold 2,691 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $31.85, for a total value of $85,708.35. Following the sale, the director now owns 23,013 shares of the company’s stock, valued at approximately $732,964.05. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 248,656 shares of company stock worth $7,807,326 in the last 90 days. 4.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkermes

Several large investors have recently added to or reduced their stakes in the company. Hussman Strategic Advisors Inc. acquired a new position in Alkermes in the 4th quarter valued at approximately $1,933,000. Ieq Capital LLC acquired a new position in Alkermes in the 4th quarter valued at approximately $1,057,000. New York State Common Retirement Fund raised its holdings in Alkermes by 3.5% in the 4th quarter. New York State Common Retirement Fund now owns 142,480 shares of the company’s stock valued at $4,098,000 after acquiring an additional 4,799 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Alkermes in the 4th quarter valued at approximately $25,000. Finally, CIBC Asset Management Inc raised its holdings in Alkermes by 4.4% in the 4th quarter. CIBC Asset Management Inc now owns 9,155 shares of the company’s stock valued at $263,000 after acquiring an additional 384 shares in the last quarter. Institutional investors and hedge funds 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.