The Goldman Sachs Group Boosts Alkermes (NASDAQ:ALKS) Price Target to $32.00

Alkermes (NASDAQ:ALKS) had its target price boosted by investment analysts at The Goldman Sachs Group from $30.00 to $32.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential downside of 11.11% from the company’s current price.

A number of other equities research analysts have also issued reports on ALKS. StockNews.com upgraded shares of Alkermes from a “buy” rating to a “strong-buy” rating in a research note on Thursday. HC Wainwright restated a “neutral” rating and set a $46.00 price objective on shares of Alkermes in a research note on Thursday. Mizuho increased their target price on Alkermes from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Cantor Fitzgerald lowered their price target on Alkermes from $48.00 to $43.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alkermes has a consensus rating of “Moderate Buy” and an average target price of $37.25.

Alkermes Price Performance

ALKS stock opened at $36.00 on Friday. The stock’s 50 day moving average is $30.21 and its two-hundred day moving average is $28.68. Alkermes has a 52-week low of $22.90 and a 52-week high of $36.06. The company has a market capitalization of $5.82 billion, a PE ratio of 18.46, a P/E/G 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 (NASDAQ:ALKS) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Alkermes had a net margin of 22.15% and a return on equity of 24.92%. Analysts predict that Alkermes will post 2.23 earnings per share for the current fiscal year.

Insider Transactions at Alkermes

In other Alkermes news, EVP Craig C. Hopkinson sold 100,918 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $32.05, for a total transaction of $3,234,421.90. Following the completion of the transaction, the executive vice president now directly owns 44,290 shares of the company’s stock, valued at $1,419,494.50. The trade was a 69.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christian Todd Nichols sold 5,208 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $29.15, for a total transaction of $151,813.20. Following the completion of the transaction, the senior vice president now owns 60,703 shares of the company’s stock, valued at approximately $1,769,492.45. This trade represents a 7.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,189 shares of company stock worth $5,723,518. Insiders own 4.89% of the company’s stock.

Institutional Trading of Alkermes

Several hedge funds have recently added to or reduced their stakes in ALKS. Venturi Wealth Management LLC acquired a new position in shares of Alkermes during the fourth quarter valued at $25,000. V Square Quantitative Management LLC bought a new position in Alkermes in the 3rd quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in Alkermes by 106.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,635 shares of the company’s stock valued at $47,000 after buying an additional 842 shares in the last quarter. Blue Trust Inc. increased its stake in Alkermes by 2,231.5% during the 4th quarter. Blue Trust Inc. now owns 1,702 shares of the company’s stock valued at $49,000 after buying an additional 1,629 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Alkermes by 558.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,950 shares of the company’s stock worth $85,000 after buying an additional 2,502 shares in the last quarter. Institutional investors own 95.21% of the company’s stock.

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.