Brokerages Set Alkermes plc (NASDAQ:ALKS) PT at $35.42

Shares of Alkermes plc (NASDAQ:ALKS) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $35.42.

ALKS has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Cantor Fitzgerald reduced their price target on shares of Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. The Goldman Sachs Group reduced their target price on shares of Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 25th. Mizuho increased their target price on shares of Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus upgraded shares of Alkermes from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $36.00 in a report on Tuesday, November 5th.

Alkermes Stock Up 3.9 %

Alkermes stock opened at $28.78 on Friday. The stock has a market capitalization of $4.66 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.91 and a beta of 0.47. Alkermes has a twelve month low of $22.22 and a twelve month high of $32.88. The company has a quick ratio of 3.03, a current ratio of 3.45 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $27.86 and a 200-day moving average of $26.32.

Insiders Place Their Bets

In other Alkermes news, EVP Craig C. Hopkinson sold 58,996 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.08, for a total transaction of $1,774,599.68. Following the sale, the executive vice president now directly owns 83,300 shares of the company’s stock, valued at approximately $2,505,664. This represents a 41.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.89% of the company’s stock.

Hedge Funds Weigh In On Alkermes

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of Alkermes in the third quarter valued at about $29,000. Signaturefd LLC raised its position in shares of Alkermes by 51.2% in the second quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock valued at $34,000 after purchasing an additional 480 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Alkermes by 3,841.0% in the second quarter. Hexagon Capital Partners LLC now owns 1,537 shares of the company’s stock valued at $37,000 after purchasing an additional 1,498 shares during the period. GAMMA Investing LLC raised its position in shares of Alkermes by 44.4% in the second quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock valued at $55,000 after purchasing an additional 703 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Alkermes in the second quarter valued at about $116,000. 95.21% of the stock is owned by institutional investors.

Alkermes Company Profile

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.