Brokerages Set Alkermes plc (NASDAQ:ALKS) Target Price at $38.33

Alkermes plc (NASDAQ:ALKS) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $38.33.

A number of equities research analysts have recently issued reports on ALKS shares. HC Wainwright reissued a “neutral” rating on shares of Alkermes in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their target price on shares of Alkermes from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Royal Bank of Canada boosted their target price on shares of Alkermes from $39.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alkermes from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, StockNews.com downgraded Alkermes from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th.

Alkermes Price Performance

Shares of Alkermes stock opened at $31.42 on Friday. The business has a fifty day simple moving average of $30.56 and a two-hundred day simple moving average of $30.67. Alkermes has a 1 year low of $22.90 and a 1 year high of $36.45. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 2.20 and a beta of 0.51.

Alkermes (NASDAQ:ALKS) last announced its earnings results on Thursday, May 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.19). The business had revenue of $306.51 million during the quarter, compared to the consensus estimate of $307.53 million. Alkermes had a net margin of 23.57% and a return on equity of 30.80%. The company’s revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. As a group, equities analysts anticipate that Alkermes will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALKS. Venturi Wealth Management LLC acquired a new position in Alkermes during the fourth quarter worth about $25,000. Twin Tree Management LP acquired a new position in Alkermes during the first quarter worth about $29,000. Brooklyn Investment Group raised its stake in Alkermes by 1,071.1% during the first quarter. Brooklyn Investment Group now owns 1,054 shares of the company’s stock worth $35,000 after acquiring an additional 964 shares in the last quarter. Quantbot Technologies LP raised its stake in Alkermes by 54.5% during the first quarter. Quantbot Technologies LP now owns 1,091 shares of the company’s stock worth $36,000 after acquiring an additional 385 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake 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 acquiring an additional 842 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.