Alkermes plc (NASDAQ:ALKS) Receives $43.93 Average PT from Analysts

Shares of Alkermes plc (NASDAQ:ALKS) have received a consensus recommendation 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 assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $43.9333.

ALKS has been the topic of several recent analyst reports. Royal Bank Of Canada dropped their target price on Alkermes from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Thursday, February 26th. HC Wainwright reaffirmed a “neutral” rating and set a $43.00 price target on shares of Alkermes in a report on Thursday, February 26th. Truist Financial raised Alkermes to a “strong-buy” rating in a research report on Wednesday, March 25th. Wolfe Research initiated coverage on Alkermes in a report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, Zacks Research lowered Alkermes from a “hold” rating to a “strong sell” rating in a research report on Friday, March 20th.

Alkermes Stock Performance

Shares of Alkermes stock opened at $34.84 on Tuesday. Alkermes has a one year low of $25.17 and a one year high of $36.48. The company has a market cap of $5.79 billion, a PE ratio of 24.36, a P/E/G ratio of 8.74 and a beta of 0.44. The business has a 50-day simple moving average of $31.40 and a 200-day simple moving average of $30.31.

Alkermes (NASDAQ:ALKS) last issued its earnings results on Thursday, February 26th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.14). Alkermes had a net margin of 16.37% and a return on equity of 14.91%. The firm had revenue of $384.55 million during the quarter, compared to analyst estimates of $380.44 million. During the same period last year, the business earned $1.05 EPS. The firm’s revenue was down 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Alkermes will post 1.31 earnings per share for the current fiscal year.

Insider Activity at Alkermes

In other news, Director Shane Cooke sold 61,200 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $34.57, for a total value of $2,115,684.00. Following the completion of the transaction, the director owned 103,744 shares in the company, valued at approximately $3,586,430.08. This represents a 37.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David Joseph Gaffin sold 2,034 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $29.29, for a total transaction of $59,575.86. Following the completion of the transaction, the executive vice president owned 237,660 shares of the company’s stock, valued at approximately $6,961,061.40. The trade was a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 162,434 shares of company stock valued at $5,513,384. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Alkermes

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. grew its stake in Alkermes by 933.8% during the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock worth $25,000 after buying an additional 747 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Alkermes in the fourth quarter valued at approximately $28,000. Johnson Financial Group Inc. acquired a new stake in shares of Alkermes in the third quarter valued at approximately $31,000. UMB Bank n.a. boosted its holdings in shares of Alkermes by 57.6% in the fourth quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after acquiring an additional 446 shares during the period. Finally, Salomon & Ludwin LLC grew its position in shares of Alkermes by 115.6% during the fourth quarter. Salomon & Ludwin LLC now owns 1,244 shares of the company’s stock worth $35,000 after acquiring an additional 667 shares during the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

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.