Alkermes (NASDAQ:ALKS) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Alkermes (NASDAQ:ALKS) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $40.00 to $52.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 54.35% from the company’s current price.

A number of other research firms have also recently weighed in on ALKS. UBS Group upgraded Alkermes from a “sell” rating to a “neutral” rating and raised their price target for the company from $21.00 to $38.00 in a research note on Tuesday, March 4th. Royal Bank of Canada began coverage on Alkermes in a research note on Thursday, March 13th. They set a “sector perform” rating and a $40.00 target price for the company. The Goldman Sachs Group increased their price target 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. StockNews.com upgraded shares of Alkermes from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $46.00 target price on shares of Alkermes in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alkermes currently has an average rating of “Moderate Buy” and a consensus price target of $39.38.

Alkermes Stock Performance

Shares of ALKS opened at $33.69 on Thursday. The stock has a market capitalization of $5.48 billion, a PE ratio of 15.53, a P/E/G ratio of 2.20 and a beta of 0.62. The company’s 50-day simple moving average is $33.30 and its 200-day simple moving average is $30.20. Alkermes has a 1 year low of $22.90 and a 1 year high of $36.45.

Alkermes (NASDAQ:ALKS) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a return on equity of 30.80% and a net margin of 23.57%. On average, sell-side analysts predict that Alkermes will post 1.31 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Craig C. Hopkinson sold 144,419 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $35.53, for a total value of $5,131,207.07. Following the completion of the sale, the executive vice president now directly owns 57,875 shares of the company’s stock, valued at $2,056,298.75. This trade represents a 71.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.89% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new position in shares of Alkermes during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC boosted its holdings in Alkermes by 106.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock worth $47,000 after buying an additional 842 shares in the last quarter. Blue Trust Inc. grew its position in Alkermes by 2,231.5% during the fourth quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock worth $49,000 after buying an additional 1,629 shares during the period. Smartleaf Asset Management LLC increased its holdings in Alkermes by 558.5% in the fourth 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 in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Alkermes in the fourth quarter valued at about $98,000. 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.