Alkermes (NASDAQ:ALKS) Reaches New 12-Month High – Time to Buy?

Shares of Alkermes plc (NASDAQ:ALKS) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $44.76 and last traded at $44.8170, with a volume of 1570521 shares changing hands. The stock had previously closed at $42.45.

Analyst Ratings Changes

A number of research firms have issued reports on ALKS. UBS Group increased their price target on Alkermes from $42.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC increased their price target on Alkermes from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Alkermes from $45.00 to $56.00 and gave the company an “outperform” rating in a research report on Tuesday. Wolfe Research began coverage on Alkermes in a research report on Monday, February 23rd. They issued an “outperform” rating and a $45.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on Alkermes from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $46.13.

Alkermes Stock Up 4.5%

The firm’s 50 day simple moving average is $36.15 and its 200-day simple moving average is $32.30. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 49.28 and a beta of 0.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.27 and a quick ratio of 1.70.

Alkermes (NASDAQ:ALKS) last issued its quarterly earnings data on Saturday, February 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The company had revenue of $384.55 million for the quarter. Alkermes had a return on equity of 9.26% and a net margin of 9.78%. As a group, sell-side analysts anticipate that Alkermes plc will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP David Joseph Gaffin sold 2,034 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $43.05, for a total transaction of $87,563.70. Following the transaction, the executive vice president owned 229,524 shares in the company, valued at $9,881,008.20. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Craig C. Hopkinson sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $33.40, for a total value of $300,600.00. Following the transaction, the executive vice president owned 81,389 shares in the company, valued at $2,718,392.60. This represents a 9.96% 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 33,102 shares of company stock worth $1,220,628 in the last 90 days. 4.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. grew its stake in shares of Alkermes by 933.8% in the 3rd quarter. Assetmark Inc. now owns 827 shares of the company’s stock valued at $25,000 after purchasing an additional 747 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of Alkermes in the 4th quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new position in shares of Alkermes in the 3rd quarter valued at approximately $31,000. UMB Bank n.a. grew its stake in shares of Alkermes by 57.6% in the 4th quarter. UMB Bank n.a. now owns 1,220 shares of the company’s stock valued at $34,000 after purchasing an additional 446 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in shares of Alkermes by 395.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,239 shares of the company’s stock valued at $37,000 after purchasing an additional 989 shares during the last quarter. 95.21% of the stock is currently 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.