Alkermes (NASDAQ:ALKS) Price Target Raised to $40.00

Alkermes (NASDAQ:ALKS) had its target price hoisted by Mizuho from $35.00 to $40.00 in a research report report published on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other brokerages also recently issued reports on ALKS. Piper Sandler restated an “overweight” rating and issued a $37.00 price target (down from $38.00) on shares of Alkermes in a research report on Friday, October 25th. The Goldman Sachs Group decreased their target price on Alkermes from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Robert W. Baird lifted their price objective on Alkermes from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. decreased their price objective on Alkermes from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $37.00 target price on shares of Alkermes in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkermes currently has a consensus rating of “Moderate Buy” and an average price target of $35.42.

Alkermes Trading Down 0.6 %

ALKS stock opened at $28.19 on Wednesday. The firm has a fifty day moving average price of $27.76 and a 200 day moving average price of $26.20. Alkermes has a fifty-two week low of $22.06 and a fifty-two week high of $32.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.03 and a current ratio of 3.45. The firm has a market cap of $4.56 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

Insider Transactions at Alkermes

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALKS. EFG Asset Management North America Corp. raised its stake in shares of Alkermes by 0.5% during the 2nd quarter. EFG Asset Management North America Corp. now owns 75,864 shares of the company’s stock worth $1,828,000 after buying an additional 359 shares during the period. United Services Automobile Association grew its holdings in shares of Alkermes by 3.1% during the 2nd quarter. United Services Automobile Association now owns 13,208 shares of the company’s stock worth $318,000 after purchasing an additional 400 shares during the period. Signaturefd LLC grew its holdings in shares of Alkermes by 51.2% during the 2nd quarter. Signaturefd LLC now owns 1,417 shares of the company’s stock worth $34,000 after purchasing an additional 480 shares during the period. Handelsbanken Fonder AB lifted its stake in Alkermes by 0.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 220,600 shares of the company’s stock worth $6,175,000 after acquiring an additional 700 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Alkermes by 44.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,287 shares of the company’s stock worth $55,000 after acquiring an additional 703 shares in the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.

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.