Alkermes plc (NASDAQ:ALKS) Receives $54.56 Consensus PT from Analysts

Alkermes plc (NASDAQ:ALKS) has been assigned an average rating of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $54.5625.

Several brokerages have recently issued reports on ALKS. Robert W. Baird boosted their price target on shares of Alkermes from $48.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alkermes in a research note on Friday, August 7th. HC Wainwright reiterated a “neutral” rating on shares of Alkermes in a report on Thursday, July 30th. Stifel Nicolaus reissued a “buy” rating and issued a $63.00 target price (up from $45.00) on shares of Alkermes in a research note on Monday, July 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $65.00 price target (up from $43.00) on shares of Alkermes in a report on Tuesday, July 28th.

Alkermes Price Performance

Alkermes stock opened at $47.20 on Friday. The firm has a market capitalization of $7.92 billion, a P/E ratio of 124.21 and a beta of 0.31. Alkermes has a 1 year low of $25.17 and a 1 year high of $55.67. The business has a 50-day moving average of $50.91 and a 200-day moving average of $40.66. The company has a current ratio of 2.30, a quick ratio of 1.85 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling at Alkermes

In other Alkermes news, Director Nancy Lynn Md Snyderman sold 44,472 shares of Alkermes stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $50.35, for a total value of $2,239,165.20. Following the transaction, the director owned 15,395 shares of the company’s stock, valued at approximately $775,138.25. The trade was a 74.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher I. Wright sold 2,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $45.10, for a total transaction of $90,200.00. Following the sale, the director directly owned 25,680 shares of the company’s stock, valued at $1,158,168. This represents a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 87,150 shares of company stock worth $4,322,324 over the last three months. Company insiders own 4.59% of the company’s stock.

Institutional Trading of Alkermes

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC lifted its stake in Alkermes by 2.7% in the 4th quarter. Sanctuary Advisors LLC now owns 12,141 shares of the company’s stock valued at $340,000 after acquiring an additional 315 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Alkermes by 3.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,326 shares of the company’s stock worth $289,000 after acquiring an additional 351 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Alkermes by 33.9% during the 2nd quarter. Versant Capital Management Inc now owns 1,445 shares of the company’s stock worth $76,000 after acquiring an additional 366 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in shares of Alkermes by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,762 shares of the company’s stock worth $263,000 after acquiring an additional 376 shares in the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of Alkermes by 0.9% in the third quarter. Horizon Investments LLC now owns 43,002 shares of the company’s stock valued at $1,290,000 after purchasing an additional 387 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.

About Alkermes

Alkermes plc is a biopharmaceutical company focused on developing innovative medicines to address unmet needs in the central nervous system (CNS). The company applies its proprietary drug delivery technologies and therapeutic expertise to advance treatments for addiction, schizophrenia, bipolar I disorder and depression. Alkermes’ portfolio includes both commercial products and a pipeline of investigational therapies designed to improve patient outcomes and support long-term disease management.

Alkermes’ commercial franchise features several approved products.