Alkermes (NASDAQ:ALKS) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Stock analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Alkermes (NASDAQ:ALKS) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $40.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 28.08% from the company’s previous close.

A number of other brokerages have also recently issued reports on ALKS. Stifel Nicolaus raised Alkermes from a “hold” rating to a “buy” rating and upped their target price for the company from $25.00 to $36.00 in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Piper Sandler reaffirmed an “overweight” rating and set a $37.00 price objective (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. Cantor Fitzgerald decreased their price objective on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a research report on Friday, October 25th. Finally, The Goldman Sachs Group decreased their price objective on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Alkermes Stock Down 1.1 %

Shares of NASDAQ ALKS opened at $31.23 on Tuesday. The stock has a market cap of $5.05 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.83 and a beta of 0.49. 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 $22.90 and a 52-week high of $32.88. The business has a 50-day moving average price of $30.08 and a 200 day moving average price of $28.60.

Insider Buying and Selling at Alkermes

In other Alkermes news, SVP Christian Todd Nichols sold 5,208 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total value of $151,813.20. Following the transaction, the senior vice president now directly owns 60,703 shares of the company’s stock, valued at $1,769,492.45. This trade represents a 7.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig C. Hopkinson sold 9,221 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $31.50, for a total value of $290,461.50. Following the completion of the transaction, the executive vice president now directly owns 59,730 shares in the company, valued at $1,881,495. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,189 shares of company stock valued at $5,723,518 over the last three months. 4.89% of the stock is owned by company insiders.

Institutional Trading of Alkermes

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Xponance Inc. increased its position in shares of Alkermes by 5.6% during the fourth quarter. Xponance Inc. now owns 18,554 shares of the company’s stock worth $534,000 after acquiring an additional 976 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Alkermes by 30.4% during the fourth quarter. Intech Investment Management LLC now owns 68,151 shares of the company’s stock worth $1,960,000 after acquiring an additional 15,878 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of Alkermes by 4.4% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 23,033 shares of the company’s stock worth $662,000 after acquiring an additional 967 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Alkermes during the fourth quarter worth about $433,000. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Alkermes during the fourth quarter worth about $218,000. 95.21% of the stock is owned by hedge funds and other institutional investors.

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.